Somaraju is a leading businessman in Vishakhapatnam. Mysamma is a close member of Somaraju who handles his deals in Hyderabad. Mahalakshmi is Somaraju's daughter, and he dearly loves her. Bunny alias Raja joins the same college as Mahalakshmi. He impresses her on the first day itself. Slowly she falls in love with him. Somaraju, though reluctant initially, agrees to the marriage. Now Raja has a condition that Somaraju should give his entire property to Raja as dowry. The rest of the story explains why Raja asks for Somaraju's property.
Raja's real father is Mahalakshmi's maternal uncle. He was a great man with lots of land and property, as well as lots of regard from government and other people. When Mahalakshmi is born, her mom asks him to perform the baby naming ceremony and such. On his way there, Somaraju attacks him with the help of a bunch of rowdies. They pretty much kill him and leave him to die in the forest. However, he manages to live and perform Mahalakshmi's ceremony, but he dies minutes after without telling anyone what happened.
Raja comes to know of this when his so-called father explains to him that he is really his godfather and not his father. While trying to save him, his godfather and godmother give up their own son to keep him alive. To regain his rightful property, Raja fights with Mysamma and wins his girl.