Noted producer Kotapadi J Rajesh, who is all set to make his debut as the lead with the upcoming sports drama Angikaaram, has recently opened up about his financial situation and the losses incurred regarding his projects, mentioning that he is currently sitting a deficit of a whopping Rs 120 crore.

In a recent interview with Galatta Plus, the producer said that Hero (2019), Doctor (2021) and Ayalaan (2024), all headlined by Sivakarthikeyan, were not from his production house, but bankrolled by 24AM Studios. "We had taken over the projects. Siva and I knew each other well. At that time, Hero was stuck due to certain issues, so I took over the project. Along with that came Ayalaan, which was also delayed. I thought we could complete three or four projects together and recover from the situation, but I made a mistake and got stuck," he explained.

Rajesh recalled that while Hero had a strong story, it failed to connect with audiences. "Hero was a major flop despite having a good story. People weren’t ready to accept it at that time. Maaveeran worked because Siva played a common man. There was also a perception that Hero was similar to Gentleman. Moreover, audiences did not accept the fact that Siva's character did not fight in the film," he explained. Speaking about the financial burden of Ayalaan, Rajesh revealed that he and Sivakarthikeyan had planned to recover the losses through multiple projects together. "To offset the losses incurred by Ayalaan, we had agreed to do three films with Siva, one of which was Doctor. Although Doctor became a hit, neither Siva nor I made money from it because Ayalaan came with a debt of Rs 90 crore, and we had to clear that first," he said.

Rajesh further admitted that despite his banking background, he underestimated the financial challenges involved. “I believed I knew how to handle numbers because I came from a banking background. But a series of financial issues put me in a difficult position. I took over Hero in 2018, followed by Ayalaan. We had signed an agreement to clear all debts through three films before 2020. Hero released in 2019, and the refund amount alone was Rs 30 crore. Then the pandemic struck, affecting both Doctor and Ayalaan. By the time things resumed three years later, the interest had piled up. I entered with a debt of Rs 90 crore, and today I’m sitting on a loss of Rs 120 crore. Siva's loss stands at Rs 55 crore,” he elaborated.

Rajesh also noted that two more projects remain pending between him and Sivakarthikeyan, though he is uncertain about when—or if—they will eventually materialise.

Meanwhile, KJ Rajesh's Angikaaram, which is set for release this month, has been directed by debutant Thenpathiyan. In an earlier interview with CE, the director said, "Angikaaram is not about one person's struggle and pursuit towards glory; my hero is a representative of the hapless athletics fraternity in India."