The film opens with a voice-over by the Prasad, a gifted narrator whose closest friend, Bobby, is a wealthy tycoon with a soft spot for Kalpana. A minor misunderstanding sets Kalpana on a path toward Prasad, and before anyone can react, the two decide to seek the blessing of Kalpana’s strict brother, Major Chandrakanth, to seal the alliance. Yet fate has other plans: Bobby races to inform his grandmother, the formidable Sarada Devi, who raised him and longs to meet the bride before she passes away. Tragically, the elder woman is near the end of her life, and this wish becomes a delicate pivot point for everyone involved.
As the situation unfolds, Prasad realizes the gravity of the moment and steps back, choosing not to upset Chandrakanth’s strict sensibilities. In a bid to navigate the marred truth, Prasad experiments with a string of disguises, failing repeatedly until he slips into the persona of Sarojini, a lecturer who is linked to Sarada Devi in a world of education and influence. When Sarada Devi, unexpectedly, begins to recover, Prasad’s ruse tightens its grip on the family’s fate. Sarada Devi is a noblewoman who has dedicated her life to empowering women and running a college; within this world she appoints Sarojini as a lecturer who mentors a bright student named Soundarya, who resides as a lodger.
Prasad already shares a complicated past with Soundarya and, to win her affection, he sustains two disguises—one as a wealthy Mr. Moneybag and another as the more elusive persona he creates to keep his secrets intact. When he briefly hides behind the modern girl Mandakini, an older bachelor named Rayudu, a photographer, becomes enthralled and begins to shadow him. An unfortunate snap of Prasad’s attire is captured by Rayudu’s photographer lens, forcing Prasad to improvise yet another costume to keep his identities safe.
Meanwhile, the plot thickens as Soundarya’s faltering family situation grows dire. Soundarya’s sister-in-law, a vagabond by circumstance, throws the family into turmoil over dowry, and Soundarya helps Prasad weather the storm. In a sense, Prasad channels Sarada Devi’s spirit, taking up a social reformer’s mantle and earning widespread admiration under the title Madam. At the same time, Rayudu’s personal assistant uses Prasad’s hidden truth to coerce him into collecting donations and channeling funds under Madam’s famous aura, though Prasad manages to steer the money toward worthy causes.
With multiple romances and disguises at play—Prasad’s entanglements with Soundarya and Kalpana, Sarojini’s clandestine link to Bobby, and Rayudu’s pursuit of Mandakini—the situation resembles a crowded, delicate temple of mistaken identities. A security scare threatens to expose the whole ruse, and Prasad schemes to clear the board by erasing the Madam persona with Bobby’s help. Soundarya overhears the plot and informs Sarada Devi, just as Prasad reappears in the Madam disguise to reveal the truth. Faced with the consequences, Sarada Devi chooses to protect the larger aims her granddaughter Sarojini has helped realize, preserving the secrecy that sustains those goals.
In the end, the film resolves with a comic, often breezy tribute to Madam as the public moment marks Sarojini’s supposed death, while Sarada Devi’s past ambitions remain intact. The result is a light-hearted finale that honors the reformist spirit and the playful chaos of Prasad’s many faces, leaving audiences with a wink and a smile at the elaborate dance of love, identity, and social aspiration.
