Post by : Meena Ariff

Karan Johar, one of India’s most influential filmmakers, has once again proven that his candor knows no bounds. Known for speaking his mind, the director-producer recently opened up about his weaknesses in the business world, even as he continues to lead one of the country’s most successful film production houses — Dharma Productions.

In a revealing conversation with Curly Tales, Karan Johar confessed that while he thrives creatively, he struggles when it comes to business negotiations. This candid admission came nearly a year after he sold 50% of Dharma Productions to Adar Poonawalla’s Serene Productions in a landmark deal worth ₹1,000 crore.

The ₹1,000 crore deal that reshaped Dharma

The 2024 partnership between Dharma Productions and Serene Productions sent ripples across the Indian entertainment industry. The deal valued Dharma Productions and Dharmatic Entertainment — the digital and television wing — at a combined ₹2,000 crore, marking one of the largest transactions in Bollywood’s corporate history.

Despite the staggering figures, Karan Johar insists he is not a natural businessman. “My business acumen is not the sharpest,” he admitted in the interview. “You may not believe me, but it’s true. Apoorva Mehta, who’s the CEO of my company and also my best friend, is the business mind behind everything we do — Dharma, Dharmatic, Dharma 2.0, and DCA. I’m the creative source.”

Apoorva Mehta — The business brain behind Dharma

Johar credited Apoorva Mehta for steering Dharma Productions to financial success. The two share a friendship that dates back decades, having attended the same school and college. “I called on Apoorva, who left his job and business in London and moved back to India. From then on, it’s been 20 years of us working together, building Dharma into what it is today,” Karan said.

Mehta’s leadership has been instrumental in diversifying Dharma’s operations, from launching Dharmatic Entertainment for OTT content to Dharma 2.0, which handles advertising and digital campaigns. The brand’s creative and commercial evolution mirrors Karan’s own journey — from inheriting his father Yash Johar’s legacy to redefining it for the streaming era.

Why Karan Johar sold 50% of Dharma

When asked why he decided to part with half of his production company, Karan offered a pragmatic answer. “It was the right decision for growth,” he explained. “I knew that ₹50 crore would become ₹1,500 crore if I had that 50% investment. I knew what I could do with that capital — how I could expand and take the company forward.”

The partnership with Adar Poonawalla — a billionaire entrepreneur best known for leading the Serum Institute of India — provides Dharma with the financial muscle to expand into international markets, large-scale streaming projects, and global co-productions.

Karan, however, was quick to add that despite his creative confidence, he lacks assertiveness in financial discussions. “I’m the worst. I should never be in the negotiation room because I’ll always give up more and receive less,” he laughed.

From Yash Johar’s legacy to a 21st-century empire

Karan Johar’s relationship with business has always been shaped by creativity and emotion. After the demise of his father, Yash Johar, in 2004, Karan took over Dharma Productions — then a respected but modestly scaled studio known for classics like Kabhi Khushi Kabhie Gham and Kal Ho Naa Ho.

Over the next two decades, he transformed Dharma into a powerhouse synonymous with big-budget blockbusters and breakthrough talent. Films like Kabhi Alvida Naa Kehna, My Name is Khan, Yeh Jawaani Hai Deewani, and Brahmāstra solidified Dharma’s brand as one of the most recognizable in Indian entertainment.

With the rise of streaming platforms, Johar also expanded aggressively into digital content through Dharmatic Entertainment, producing successful titles such as Fabulous Lives of Bollywood Wives and Koffee with Karan (Disney+ Hotstar).

A creative powerhouse with limited business patience

While many industry insiders see Karan as a shrewd operator, his own words paint a different picture. He admitted that he prefers leaving financial matters to those better equipped. “Negotiations drain me. I get impatient. I just want to get things done. That’s why I trust Apoorva — he’s calm, calculated, and knows the numbers,” Johar said.

His honesty about his “terrible negotiator” tag has earned him praise online, with fans and peers applauding his humility in an industry often driven by ego and competition.

The future of Dharma under shared ownership

The Dharma–Serene partnership is expected to usher in a new era for Indian cinema, focusing on global collaborations, cutting-edge storytelling, and talent incubation. Sources suggest that the deal will also allow Karan to pursue more international projects while Serene Productions strengthens its presence in entertainment investments.

Even as Karan acknowledges his shortcomings as a negotiator, there’s no denying his instinct for storytelling and vision for the future of Indian cinema. As he puts it, “I may not know the numbers, but I know the story — and at the end of the day, that’s what keeps Dharma alive.”

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