The film deals with 5 aspects of life. Hence the name pancharangi, which means 5 colors of life. The story is based on various aspects of life such as Parents, Friends, Goals, Success, Failure, Love, Marriage, Kids.

The story revolves around a lazy boy (Diganth). He is doing his post graduation in philosophy. Lonce with his parents (Sundar Raj and Sudha Belawadi), he goes to see a girl (Ramya Barna) for his brother (Pavan Kumar), who is a software professional in US. Panchakshari, a marriage broker (Raju Talikote), mediates both the families.

While his parents are a busy with seeing the girl, this wayward guy meets girl’s cousin Ambika (Nidhi Subbaiah), who is a naughty and tomboyish kind of a girl. Seeing his humourous nature, she falls in love with him. Whether they will unite or not will form the climax of the movie.