Dharma Production clocked in 44 years of storytelling with some of the cult classics. Founded by Yash Johar in 1976, the production house is now owned by his son, Karan Johar, who made it to the juggernaut it is today. Karan is a poignant name in the entertainment world as he has been a filmmaker, host, reality TV judge, business and much more.
Karan, who has been helming his father’s production house for 25 years, has opened many other businesses under Dharma. Karan is not the only visionary behind Dharma's massive success; his best friend and partner, Apoorva Mehta, has been a strong pillar for the company. As the production house turns 44, let us look at its journey.
Yash Johar had an export business through which he sold iron to America and France. Along with this business, he entered the film business, too. Yash was a production controller for filmmakers like Sunil Dutt and Dev Anand. Yash Johar founded Dharma in 1979, and Dostana, starring Amitabh Bachchan, Shatrughan Sinha, and Zeenat Aman, was the first film produced under the Dharma banner.
Over the years, the production house produced films such as Duniya, Muqaddar Ka Faisla, Agneepath, Gumrah, Duplicate, and several others.
Yash Johar’s son Karan Johar entered the film industry with the film, Kuch Kuch Hota Hai in 1998. At the age of 26, he made KKHH, which won the National Award for Best Popular Film. Karan followed it up with Kabhi Khushi Kabhie Gham in 2001, which also won many awards.
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Dharma’s next venture was Kal Ho Naa Ho, directed by Nikhil Advani in 2003. The film was a massive hit and won two National Awards. In 2004, Karan Johar’s life turned upside down when his father passed away after battling cancer. Karan was just 31 when he lost his biggest strength. But he decided to run his father’s business and took the onus of Dharma Productions on his own shoulders.
It was an alien world for Karan Johar when the responsibility of Dharma Productions fell on his shoulders. He was only creatively involved in his father’s business and didn’t know anything about its financial condition. In an interview with The Week, Karan recalled the crucial phase and shared:
“I had never involved myself in the business aspect of things. I couldn’t sign a cheque and I had never met our chartered accountant.”
Karan was clear that he could not run the business alone and needed somebody whom he could trust. At that moment, Karan dialled his best friend, Apoorva Mehta, who was working for Yash Raj Films in London. Without even thinking twice, Apoorva and his wife packed their bags and flew to Mumbai.
Karan and Apoorva’s friendship goes back to grade six when Karan’s division got changed, and Apoorva was the first friend he got. Apoorva joined Dharma in 2005 as CEO and has been leading the company since then. Talking about Apoorva and their partnership, Karan said:
“He is my financial keeper, my financial policeman. He became like a sibling.”
Karan Johar, along with his partner Apoorva Mehta, built a brand that produced and distributed cult films like Badrinath Ki Dulhania, Ae Dil Hai Mushkil, Humpty Sharma Ki Dulhania, 2 States, Yeh Jawaani Hai Deewani, Kapoor and Sons, the Baahubali series, and many more.
When Karan took the onus of Dharma Production into his own hands, he was very clear about expanding his business. Back then, he was making one film every three years, but soon, his focus shifted to producing more content. While Karan took over the creative side and gave opportunities to new directors, Apoorva focused on raising money and deciding expenditures.
In the process, Karan introduced more than 25 directors as first-time filmmakers. Not just directors, Karan also launched many stars like Varun Dhawan, Alia Bhatt, Ishaan Khattar, Sidharth Malhotra, Janhvi Kapoor, Ananya Pandey, Tara Sutaria and many others.
Dharma Production spread its wings and started Dharma 2.0, which makes advertising films. Another venture started by Karan is Dharmatic, which delves digital content for streaming platforms. Now, the business is divided 70:30 between Dharma and Dharmatic. Under Dharmatic, shows and movies such as Guilty, Ajeeb Daastaans, Meenakshi Sundareshwar, and The Fame Game were made.
With around 300 employees, the Dharma team has three offices in Bandra Bandstand, Khar, and Andheri. The majority of the staff is creative, and the rest is corporate.
For the past months, there have been constant reports of Dharma Productions running at a loss. Rising production costs and a preference for OTT platforms are cited as the reasons behind the loss. Previously, reports surfaced that Saregama owner, RP Sanjiv Goenka Group would be taking over Dharma, but the deal couldn’t be completed.
The latest reports also suggest that Mukesh Ambani’s Reliance is also eyeing acquiring a stake in Dharma Productions. A report in the Economic Times stated that Karan, who owns 90.7 per cent of Dharma, is looking for a strategic partnership. A source informed ET:
“Karan Johar has been exploring ways to monetise his stake for some time, but previous deals failed due to valuation issues.”
On October 21, 2024, it was reported that Karan Johar sold 50 percent stakes of Dharma Productions to Adar Poonawalla of the Serum Institute of India. Adar-led Serene Productions closed the agreement at Rs. 1000 crores. The reports further stated that Karan Johar will continue as the Executive Chairman, overseeing the company’s creative direction.
Previously, reports surfaced that Saregama owner, RP Sanjiv Goenka Group would be taking over Dharma, but the deal couldn’t be completed. Talking about joining forces with Adar, Karan stated:
“From its inception, Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture. My father dreamed of creating films that would leave a lasting impact, and I’ve dedicated my career to expanding that vision. Today, as we join forces with Adar, a close friend and an exceptional visionary and innovator, we’re poised to elevate Dharma’s legacy to new heights. This partnership perfectly blends our emotional storytelling prowess and forward-thinking business strategies. “
Karan Johar’s parents wanted him to have a stable job, but it was his love for cinema that drove him into the entertainment business. With his creative enthusiasm, Karan took his production house to the juggernaut it is today.
Also Read: Atul Parchure's Wife, Sonia: Shifted From A Bungalow To Two-Room Apartment, Left Acting For Husband
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