Venkat K Narayana founded KVN Productions in 2020 with a straightforward ambition: to make world-class films rooted in Karnataka and take Indian cinema to a global audience. Six years on, the Bengaluru-based production house is trying to do that as it is now behind two of the most anticipated films of 2026, but both these star-studded vehicles are still awaiting a release date. Vijay’s Jana Nayagan and Yash’s Toxic are famously known, but film lovers are still waiting for an opportunity to catch these films. Another film by KVN Productions, KD: The Devil, is finally releasing on Thursday, April 30, but it has seen its share of controversies in the past few weeks.
Jana Nayagan, KVN’s first Tamil-language production and Vijay’s farewell to cinema, went into trouble days before its scheduled release in January 2026. After failing to secure a censor certificate, the film has been fighting a CBFC battle that reached the Supreme Court, absorbed a devastating pre-release piracy leak, and is now facing a protest from villagers in Madurai who say the film misrepresents their community. The makers are yet to announce a new release date. In an earlier court appearance, the producers told Madras High Court that they had Rs 500 crore riding on this film. The film also could not find a release window because of its lead star, Vijay, contesting in the Tamil Nadu elections.
Yash in a still from Toxic.
Toxic: A Fairy Tale for Grown-Ups, co-produced with Yash’s Monster Mind Creations and reported to be budgeted at between Rs 700 crore and Rs 800 crore, was postponed for a third time on Wednesday, April 29. The makers did not announce a new release date this time. Between them, and alongside KD: The Devil which releases on April 30, the three films represent a financial commitment that would test any production house.
At the “Sarke Chunar” song launch event for KD: The Devil, Suprith, the business head of KVN Productions, confirmed that the combined investment across the company’s three-film slate had crossed Rs 1,000 crore. Although, senior film trade analyst Ramesh Bala, in a chat with SCREEN, estimated that the figure is between Rs 1,300 crore and Rs 1,500 crore. Ramesh Bala, who has been watching KVN’s trajectory closely, explained, “KVN Productions, three films, three different problems.” He added, “And the problems faced by them are new and unique with each film.”
Jana Nayagan: The money it made, and then quickly lost
When the pre-release business for Jana Nayagan was being negotiated, it looked like one of the strongest commercial platforms ever assembled for a Tamil film. Tamil Nadu theatrical rights were sold for Rs 105 crore to Rs 106.5 crore, which were said to be the highest for any Tamil film. The overseas theatrical rights fetched around Rs 80 crore. Amazon Prime Video reportedly paid Rs 200 crore for the digital streaming rights. According to KVN productions, Zee Tamil acquired the satellite rights for Rs 64 crore, also reported as the highest satellite deal for a Tamil film. During the Madras High Court hearings in January 2026, KVN Productions’ own legal counsel cited Rs 500 crore as the production investment at risk due to the CBFC delay.
Vijay in a still from Jana Nayagan.
Yet some of what followed was, according to Ramesh Bala, not entirely without warning. “With Jana Nayagan, Vijay was warned,” he said, pointing to the signals around the film’s CBFC submission and the political climate surrounding it. “But everything else that happened after, was unexpected.” He estimates the losses to the film’s overall business at around Rs 300 crore, accounting for the OTT deal withdrawal, the piracy leak’s impact on theatrical revenue, and the erosion of distributor confidence caused by prolonged uncertainty. One of distributors of Jana Nayagan, who wished to be anonymous, told SCREEN, “I backed off from the deal, as it became very difficult to track the updates.”
Anupam Reddy, an industry analyst, said, “There is a strong window for Jana Nayagan to release after the elections, we can expect it to release in May, but there is no guarantee that they will not incur losses despite being Vijay’s last film.”
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Amazon Prime Video reportedly withdrew from the post-theatrical streaming deal in March, citing the ongoing CBFC delays. The piracy leak in mid-April 2026, which saw an HD print of the film circulate online before a censor certificate had been officially confirmed, compounded the damage further. The Tamil Nadu Cyber Crime Department arrested six individuals initially, eventually naming 21 in the investigation and blocking over 300 infringing links. The Madras High Court issued a temporary order restricting the circulation of the pirated version.
On Monday, residents of three villages near Usilampatti in Madurai district staged black-flag protests against the film, alleging that scenes distort events connected to a local by-election in Papapatti. They have demanded a public apology from Vijay and director H. Vinoth and that the contested scenes be removed before release. As of today, no confirmed release date has been announced.
Toxic: Three postponements; but losses will be ‘nomina;’ compared to Jana Nayagan
Toxic: A Fairy Tale for Grown-Ups was officially announced in December 2023. Directed by Geetu Mohandas, the film is a period gangster film set in Goa between the 1940s and the 1970s. Here, Yash plays a dual role, supported by Nayanthara, Kiara Advani, Huma Qureshi, Tara Sutaria and Rukmini Vasanth. Shot simultaneously in Kannada and English, with dubbed versions planned in Hindi, Tamil, Telugu and Malayalam, the trade estimates put film’s budget at between Rs 700 crore and Rs 800 crore, which would place it among the most expensive Indian films ever made.
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Yash in a still from Toxic.
Its pre-release theatrical business has been equally ambitious. Sri Venkateswara Creations acquired the Andhra Pradesh and Telangana distribution rights for Rs 120 crore, and according to the distributors, it is the first time a non-Telugu film had secured a deal of that size in that market. Phars Films acquired the overseas rights for the Indian-language versions for Rs 105 crore, covering Kannada, Telugu, Tamil, Hindi and Malayalam but not the English edition.
Here is where Toxic’s financial situation differs meaningfully from Jana Nayagan’s. According to Ramesh Bala, the satellite and OTT deals for Toxic have not yet been finalised. “That could be the reason the losses are more nominal compared to Jana Nayagan,” he said. Because those rights remain unlocked, the financial damage from the repeated delays is more contained than it would otherwise be. The theatrical distribution deals that have been done are in place so far.
The film was originally scheduled for April 10. However, according to sources of SCREEN, delayed shooting and production demands pushed that to March 19, where it would be clashing with Bollywood film Dhurandhar 2. Around two weeks before that date, the release was postponed again to June 4, with the decision attributed to regional instability in the Middle East. On April 29, Yash and KVN Productions announced that Toxic would not release on June 4 either. In a statement, Yash said the film had been presented at CinemaCon and received a strong response from global distributors and industry stakeholders, and that the team was realigning its strategy to support a broader worldwide rollout. The film was confirmed complete, but with no new date has been announced.
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Sanjay Dutt and Nora Fatehi in the KD The Devil song “Sarke Chunar Teri.”
KD The Devil: Releasing after a big controversy
KD The Devil releases on Thursday, April 30, but it does so carrying unresolved baggage. The promotional song “Sarke Chunar” remains banned following a government-confirmed order by the Union Information and Broadcasting Minister in Parliament. No revised version has been released publicly, despite director Prem confirming that the lyrics had been rewritten and would be resubmitted to the CBFC. The film’s official trailer was also pulled down after it was found to contain uncertified footage. As of Wednesday, no revised trailer has been uploaded in its place.
According to Ramesh Bala, the financial impact on KD The Devil is not as significant as it is for the other two films. The film received its A certificate from the CBFC on Wednesday, a day before release, clearing its final procedural hurdle even as the promotional controversy around it remains unresolved.
But KVN Productions has two films that are bigger than this in the pipeline, and so far, the release dates are not in sight.
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