Ranbir Kapoor's film goes over-budget by Rs 23 crores

The continuing slide in the value of rupee has rocked many a boats in B-town but it is Anurag Kashyap's Bombay Velvet which has suffered the biggest blow.

The period drama starring Ranbir Kapoor andAnushka Sharma is Anurag's most ambitious project till date. The film co-produced by Phantom Films and Fox Star Studios is currently being shot in Sri Lanka and sample this, one of the sets which emulates Mumbai of the 60s costs Rs 26 crore.

With the rupee hitting a new low every day, the film's budget has gone up by Rs 23 crore and it may get worse. Originally planned at Rs 71 crore (minus marketing costs), the film will now cost the makers Rs 94 crore. A source close to the development said, "When the shoot ofBombay Velvet started, one INR was equivalent to 2.45 Sri Lankan Rupee, now it is equivalent to 2.08 Sri Lankan Rupee. There are huge repercussions on the film's budget."

While the devaluation of the rupee is the major reason for the escalating costs, the busy schedule of its leading star Ranbir Kapoor too is not helping. "Ranbir flies down twice every week to Mumbai to dub for Anurag's brother Abhinav's film Besharam. And that means a longer schedule, with the unit staying put in Sri Lanka. That is another factor responsible for the rise in the budget," added the source.

Vikas Bahl, Anurag's partner at Phantom Films remained unavailable for comment, but his spokesperson called up to say that the production house does not wish to comment on the development. However, they did not deny the news.

Ramesh Taurani, who is in a similar predicament with his Akshay Kumar starrer Entertainment, was more forthcoming. "I finalised the locales, hotels etc when one dollar was equal to 55 INR. Now I have no choice but to fight the current scenario. On an average, the cost has shot up by 20 per cent at least," said the producer.

Is cost-cutting on the cards, we asked? "We surely cannot compromise on quality," was his terse reply.

Sajid Nadiadwala who is producing Kabir Khan's next starring Saif Ali Khan and Katrina Kaif in Lebanon, too is reeling. But he sees a silver lining in the bleak situation. " We should not forget that the films which are shot abroad have an overseas market too. About 50 per cent of the extra cost can be recovered," said Kabir.

Next in line is Balaji's Varun Dhawan starrer, which has an upcoming schedule in Bangkok from September 22. Director David Dhawan seemed perturbed but optimistic. "We know how to cut corners. One can always shoot fast and save a day or two from the schedule," he said.

Other projects which will be affected by the downturn are Vashu Bhagnani's Saif Ali Khan starrer, which has an extensive London schedule; Prabhu Dheva's Rambo Rajkumar which will have to shell out more for the Bangkok shoot of a special number with the film's leading pair; Farah Khan's Happy New Year, which will start its first shooting schedule in Dubai from early September.

The upcoming shoot of the Thupakki remake, produced by Vipul Shah, has been shifted back t o India . We called Shah , who said, "Yes, we have made the decision to shoot in India. Akshay and Sonakshi were to shoot for ten days for a song in the US. But I think it is irresponsible to spend in dollars now."