"Shamitabh" features Amitabh Bachchan and Dhanush in key roles.
Asked what could have gone wrong with the film, Balki told IANS: "I still don't know what went right with 'Cheeni Kum' and 'Paa'. There is no formula as such. Surprisingly, many people have come up to me and said that they loved 'Shamitabh'. But eventually it was a mixed reaction."
Balki believes that "every filmmaker has an ego".
"So, it was difficult for me to accept why others didn't like something which I liked so much. I was disappointed and it took a few months for me to overcome that phase. But after a few days I realised that I was wrong... I felt that this is not the right way."
"If the audience didn't like the film, I should accept that fact because at the end of the day, I make films for them. I don't make films for myself."
Now Balki's focus is on his next movie "Ki & Ka", starring Arjun kapoor and Kareena Kapoor Khan, on gender stereotypes.
Talking about the film, he said: "I suddenly get an idea and then I think for 10 minutes whether it is worth making a film on this. After 'Shamitabh', Big B and Jaya ji kept telling me, 'Please don't take another three to four years more to come up with your next film'.
"Then I decided to make this film."