Superstar Mahesh Babu, who is busy shooting for Telugu film "Srimanthudu", is most likely to float his own production house and plans to launch it on his father's birthday on May 31.

"Mahesh plans to launch his production company, which is going to be named after his son Gautham, on the occasion of his veteran actor-father Krishna's birthday on May 31," a source close to Mahesh told.

The source said it is so far unclear whether Mahesh plans to produce his own films or bet on smaller projects with creative content.

"An official announcement is expected to come soon from Mahesh on the projects he plans to produce. It's being said that he may even co-produce his next project with PVP Cinema," the source added.

On May 31, Mahesh's next Telugu project "Brahmotsavam" with Srikanth Addala will be launched.