Double Ismart in the blockbuster combination of Ustaad Ram Pothineni and Dashing Director Puri Jagannadh is released on August 15th as Independence Day special. Hanuman producer Niranjan Reddy's Primeshow Entertainment has bought worldwide theatrical rights for Rs. 60 crores (54 crores NRA (non returnable advance) and ₹6 crores returnable advance).

They released the film grandly everywhere and it met with disaster response. The film was a biggest debacle at the box office. Niranjan Reddy is expected to face a loss of nearly Rs 40 crores. This setback is particularly disappointing as it erases the profits he made from "Hanuman."

It is known that there is a strong rumour that Puri Jagannadh happened to offer another film for Niranjan Reddy in his banner. Rumor has it that the talented and popular young hero Teju Sajja, who recently delivered a surprise blockbuster 'HanuMan', is slated to star in a film directed by Puri Jagannath. 

The story narration was done in the summer. Currently, the hero is committed to another film, but thereafter, this project may come on to the track. Consequently, discussions regarding Puri's next film are underway.

Puri wants to complete the shoot in quick schedules and on a small budget. Puri Jagannadh decided to share the profits along with Niranjan Reddy. Though this proposal was an old one, Puri Jagannadh is now in plans to compensate for the losses of Double iSmart in this manner.

The discussions have started recently and we have to wait to see if Niranjan Reddy agrees for this proposal.