Sony inks three-pic deal with PNC

First film up to $17.5 mil; deal could total $62.5 mil

NEW DELHI -- Sony Pictures Entertainment and Pritish Nandy Communications have inked a three-picture co-production deal that calls for Sony to handle worldwide distribution.

One of the first films pitched for consideration is a completed screenplay called "Raghupati Raghav Raja Ram," based on the lyrics of a religious song, PNC chairman Pritish Nandy said Wednesday from company headquarters in Mumbai.

Set in Las Vegas, the film would have an estimated budget of $17 million, Nandy said.

Sony has not made a decision about any specific film, nor has it reviewed any budgets, spokesman Steve Elzer said from Los Angeles.

Indian media reported that the budget for the three-film deal was $62.5 million.

PNC recently inked a distribution agreement with SPE India for its upcoming film "Meerabai Not Out". Founded in the late '90s, PNC was one of the first Indian entertainment companies to go public in 2000.