Nitin Desai net worth

The country recently lost Nitin Chandrakant Desai, an art director who made vast contributions to the Indian film industry. Even though he is not among us, his financial standing is a subject of interest for common public and filmmakers alike. In this article, we will look at Nitin Desai net worth, his lifetime income and property.

Nitin Desai Net Worth, Lifetime Income, Property

Nitin Desai stood out as a highly acclaimed and impactful art director and production designer within the realm of Indian cinema. His portfolio boasts a plethora of legendary films, wherein he masterfully crafted captivating sets that seamlessly transported viewers across various eras and realms. Additionally, he made his mark as a proficient film and television producer, establishing his personal studio in Karjat, Maharashtra, to further amplify his creative endeavors.

Personal Life

Nitin Chandrakant Desai was born on August 9, 1965, in Mumbai, India. His family background was rooted in the world of cinema – his father, Chandrakant Ganpat Desai, had a role as a cinematographer, and his mother, Meena Chandrakant Desai, contributed as a film producer. Nitin was part of a trio of siblings, alongside a brother and sister. His sister, Vaishali, carved her path as an art director within the film industry.

Growing up in a middle-class household, Nitin Desai’s fascination with art and design was nurtured from an early age. He pursued his education at Wamanrao Muranjan High School, Mulund, studying in a Marathi Medium. As he progressed in his academic journey, he honed his skills in photography at prestigious institutions like the J.J. School of Art and L.S. Raheja School of Arts, both situated in Mumbai.

Nitin Desai tied the knot with Naina Desai, an individual with her own impressive credentials as a costume designer and producer. Their union was blessed with two children, a son and a daughter. Mansi Desai, their daughter, holds the position of a production coordinator at Mold3D.

On August 2, 2023, Desai was found dead in a suspected case of suicide at his studio.

Career

Nitin Desai commenced his journey as an assistant director with Tamas (1987), a groundbreaking television series helmed by Govind Nihalani. Having contributed to television projects like Bharat Ek Khoj (1988-89) and Chanakya (1991-92), he earned acclaim for his exceptional craftsmanship in the ambitious romantic epic 1942: A Love Story (1994). This achievement paved the way for significant cinematic ventures including Khamoshi: The Musical (1995), Maachis (1996), and Salaam Bombay (1988). In subsequent years, his reputation continued to flourish as he undertook the art direction for grand productions such as Swades (2004), Jodhaa Akbar (2008), Prem Ratan Dhan Payo (2015), and Panipat (2019).

Desai solidified his mastery in constructing intricate settings spanning various historical periods — from medieval to contemporary India. He even fashioned a futuristic backdrop for Action Replayy (2010). His prowess was widely acknowledged, leading to his capture of four National Awards for films like Dr Babasaheb Ambedkar (1999), Hum Dil De Chuke Sanam (2000), Lagaan (2002), and Devdas (2003), in addition to numerous popular accolades.

In 2005, Nitin Desai embarked on a journey into film production by introducing the Marathi film Aai No. 1. His production endeavors also extended to Hindi cinema with projects like Rang Rasiya (2008) and Balgandharva (2011). Among his notable contributions, he served as a co-producer for the Marathi film Katyar Kaljat Ghusali (2015) and the Hindi film Indu Sarkar (2017). Nitin Desai’s creative involvement extended beyond films, as he also took the helm as a producer for television shows like Jhansi Ki Rani (2009-2011) and Buddha (2013-2014).

Nitin Desai Net Worth

Nitin Desai net worth is estimated to be around $5 million, which translates to approximately Rs. 41 crores. He accumulated such a high amount of money from his positions as a professional art director, writer, and producer.

Nitin Desai Property

Nitin Chandrakant Desai did not have a house in the traditional sense. Desai’s attention turned toward crafting a world-class facility at ND’s Film World in Karjat, situated around 50 kilometers from Mumbai. The inspiration for this studio-cum-theme park emerged after missing the opportunity to work on Oliver Stone’s Alexander (2004). The disappointment with the available infrastructure in India prompted the American filmmaker, who had initially approached Desai for the project, to relocate the production to Morocco.

Established in 2005, the studio materialized as a personal aspiration for him, while the theme park, spanning nearly 52 acres in Karjat, evolved into a paradise for cinephiles. Visitors could partake in the enchantment of splendid sets from beloved Indian films upon purchasing a ticket. He lived and worked at this studio. However, before his death, 42 acres of this property was mortgaged to pay back a loan of Rs. 180 crores.

Nitin Desai Debt and Financial Crisis

Reportedly, Nitin Chandrakant Desai was said to have been struggling with an overwhelming debt of Rs. 252 crores. Allegedly, his company had taken two loans from ECL Finance in 2016 and 2018, totaling Rs. 185 crores. The challenges of repayment became apparent in January 2020. Subsequently, on July 25th, the National Company Law Tribunal (NCLT) accepted a petition from Edelweiss Asset Reconstruction Company to initiate a corporate insolvency resolution process. Following the ruling, the creditors labeled the account as a non-performing asset, and the accumulated default amount as of June 30, 2022, stood at Rs. 252.48 crores.

Also Read: Karan Johar Net worth, Property, Movies

Achievements

Desai’s remarkable contributions to art direction had been acknowledged with numerous accolades, including four National Film Awards, six Filmfare Awards, four IIFA Awards, four Zee Cine Awards, three Screen Awards, two Stardust Awards, and one Global Indian Film Award. Notably, he was honored with the prestigious Padma Shri in 2002, a distinguished recognition as the fourth-highest civilian award in India.

Nitin Desai’s unfortunate demise has left a void in the Bollywood film industry. His contributions and legacy are a source of inspiration for many individuals who dream of succeeding in this field.

Source: Nitin Desai Debt

Nikita
Nikita Sikri is a content creator and marketer who simplifies complex ideas and structures words to make them easy to understand for all audiences. She is a professional writer and editor- currently running a content writing agency, Aim2write, in Gurugram, India.

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