F3: Fun and Frustration

Venky, an RTO agent in Hyderabad who hides his night blindness, struggles to make ends meet. Varun Yadav, an orphan who stammers, dreams up schemes to earn quick money but keeps failing. Their fortunes change when they invest in Harika's family restaurant and end up losing a significant portion of their funds.

Desperate for cash, they pledge their property to local landlord Pala Baby to fund the next scheme. Varun schemes to marry Honey, mistakenly assuming she is wealthy, and Venky agrees to finance it, unaware of Honey's true identity and Venky's night blindness. Venky even fails to recognize Honey in the process because of his disability.

Venky and Varun shower Honey's family with expensive gifts, draining lakhs of rupees. Harika's family subsequently sinks money in shares, worsening their financial ruin. Pala Baby finally retracts any idea of waiving the loan, recognizing the guileful scheme at play.

At the police station, CI Nagaraju, who is on the verge of losing his job, devises a plan to raid Commissioner Dileep Chandra's house to seize illegally acquired cash and diamonds. The operation proceeds, and during the raid they also manage to rescue a kidnapped girl.

They stash the stolen valuables in the boot of a scrap car to keep them hidden. After confessing their actions to Dileep, the car unexpectedly goes missing, and Dileep threatens them to return the money.

Facing mounting pressure, Venky and Varun consider suicide until a breakthrough arrives: billionaire Anand Sharma is looking for his prodigal son. They decide to go to Anand's place, falsely claiming to be his son in hopes of grabbing his wealth, a plan that nearly costs them their lives.

The quartet reaches Vizianagaram and present themselves as Anand's sons, staying in his palace while the real heir is not identified. Anand forces them to pass a series of difficult tests to prove their worth.

As the final test unfolds, they team up to turn Anand's toy factory into a profit-making venture. They design a line of interactive toys featuring Telugu film characters like Amarendra Baahubali, Gabbar Singh, Ajay Krishna, Veera Raghava, Chitti Babu, and Bantu, and the sales soar.

Anand reveals that his true heir died by suicide after chasing money, but since Venky and Varun helped rescue his granddaughter, he allows them to prove themselves and offers them the profits they earned. Venky and Varun realize their mistakes and voluntarily give up the money.

Anand is abducted by his subordinates who demand a ₹100 crore ransom. Venky, Varun, Harika, and Nagaraju rush to the ransom site, engaging in a violent confrontation where Venky dresses as Narappa and Varun as Vakeel Saab to overpower the goons. The police arrive and arrest all involved.

Meanwhile, the thief who stole the car reveals to Dileep that he sold all the diamonds at a bargain, prompting the buyers to rise in politics. Dileep loses his job and joins them as an assistant to the MLA, reshaping his career path.

The film ends with the troupe heading to Goa for a celebratory trip, a lighthearted finale after their misadventures. Director Anil Ravipudi hints at a new destination, F4, signaling another chapter to come.