The Aditya Birla group launched Applause Entertainment Private Limited and burnt its fingers in its very first project, Dev.
The film was co-produced by director Govind Nihalani.
Starring Amitabh Bachchan, Fardeen Khan, Kareena Kapoor and Om Puri, Dev was inspired by the 2002 Gujarat riots.
Applause will try its luck with another Bachchan starrer, Black. Directed by Sanjay Leela Bhansali, it also features Rani Mukerji.
Black is one of the year's most-awaited releases; it is Bhansali's first film after Devdas.
The company also produces programmes for television.
Its Hum Aur Tum, a chat show hosted by Suchitra Krishnamurthy, aired on the Zee network on June 20.