Did Nag's biz ventures lured taxmen?

Hyderabad, March 23: Wednesday's I-T raids on film stars appear to have a Nagarjuna 'angle' to them. Except for Ravi Teja, all the others are known to be close to Nagarjuna and some are also said to be his active business partners. Industry sources told that over the years, Nagarjuna has evolved into a shrewd businessman with investments and ventures extending beyond the film industry. According to some sources, his business earnings are much higher than what he earns through remunerations in a year.

'The actor generally demands Nizam distribution rights as remuneration instead of a fixed pay package. Hence, he may earn anywhere between `2 crore to `6 crore depending upon the fate of the film,'' they said. A prominent industry source said, 'Nagarjuna is a very big star and considered one of the richest in the industry. He is doing movies now only out of passion and definitely not for money. If he likes the script of a movie he may even act for a very less sum. He has excelled in real estate and other ventures where he is rumoured to have made thousands of crores.'

Nagarjuna reportedly owns vast stretches of lands in Cyberabad and Visakhapatnam. He is the promoter-director of Maa TV, owns a restaurant N-Grill in Jubilee Hills and also runs a huge convention centre at Madhapur called N-Convention. As for Anushka, less than six years into the industry, she has become a reigning star having acted opposite some of the top actors. She is also making her presence felt in the Tamil film industry.

After pairing with actor Nagarjuna in her first movie 'Super' she went on to do four more movies with him. The actress who saw some big hits too was learnt to have charged `60 lakh till last year. She now charges around `1 crore per movie, sources said. Industry sources claims that Nagarjuna has shouldered the responsibility of mentor and guide for Anushka Shetty and that way she is indebited to him for her rising career in Tollywood.

D Sivaprasad Reddy, who has produced more than 14 movies in Telugu, under Kamakshi Movies banner, is known to be a close associate of actor Nagarjuna. The last five movies produced by him had Nagarjuna in the lead. Incidentally, he is also producing Nagarjuna's new movie with director Veeru Potla which is still in the shooting stages.

Akkineni Venkat, who was also covered by the IT sleuths, is the eldest son of A Nageswara Rao and manages Annapurna Studios. He also produces movies under the banner of Annapurna Studios. He is also known to be very active in real estate business.

Lastly, Ravi Teja, who is regarded as one of the most bankable stars, had a successful transition from a character artist to a lead actor in a career spanning more than a decade and a half. With his movies guaranteeing a decent run at the box office, he is a much sought after actor. With his last few movies being super hits, he now charges anywhere between `6 -`7 crore, sources added.