VB Rajendra Prasad - renowned producer of yesteryears and the recipient of last years Raghupati Venkaiah award - was richly felicitated by Telugu film producers counsel on the evening of 14th January 2004. This function was graced by DVS Raju, D Rama Naidu, G Adiseshagiri Rao, Tammareddy Krishna Murthy, Tammareddy Bharadwaja, Jamuna, Jayasudha, Gummadi, V Madhusudhana Rao, Kaikala Satyanarayana, Jagapati Babu, K Raghava, Ramesh Prasad, KS Rama Rao, C Kalyan, KC Sekhara Babu, C Aswini Dutt, K Raghavendra Rao, Kaza Suryanarayana Rao, Brahmanandam and D Suresh Babu.

V Madhusudhana Rao launched the biography of VB Rajendra Prasad written by journalist Bhageeratha. Akkineni Nageswara Rao received the first copy of the biography.

Speaking on the occasion Akkineni Nageswara Rao said that he is happy for VB Rajendra Prasad for Raghupati Venkaiah award and this felicitation. He praised VB Rajendra Prasad as the filmmaker who has good understanding of all 24 crafts of filmmaking. He also recollected how VB Rajendra Prasad did a film for the welfare of his staff. VB Rajendra Prasad created a new trend in Telugu film industry with his films.

President of Film Producers Counsel KS Rama Rao said that he is following the route laid by VB Rajendra Prasad for producing good film. Telugu film industry would continue to felicitate the winners of Raghupati Award every year.

VB Rajendra Prasad said that he is indebted to producer Dukkipati Madhusudhana Rao for his help. He regretted for not being able to give a hit to his son Jagapati Babu though 25 of 33 films he made were hits. He said that he is spiritual oriented and would keep continue doing services to Film Nagar's Daiva Sannidhanam. He thanked everybody for felicitating him.