- In 1972 Tamil Nadu Government presented Shri B.Nagi Reddi with "KALAIMAMANI" award in recognition of his contribution to the film industry.
- Shri B.Nagi Reddi became President of all India Film Federation.
- In 1987 Shri B.Nagi Reddi was awarded Dada Saheb Phalke Award, the highest award to be conferred to any individual for his contribution to the film industry.
- In 1994, Chandamama-Vijaya Combines produced 'Bhairava Dweepam' which won the Nandi Award for the best feature film including 9 other awards.
- The movie 'Nammavar' received the National Award for the Best Tamil Film for the year 1994.
- In the year 2009, The Andhra Pradesh government announced B.NAGI REDDY award to be included in the State awards for the Telugu Film industry in his memory.
- In the Indian Cinema Centenary Celebrations – 2013, Shri B.Venkatarama Reddy on behalf of Vijaya Productions received the SIFCC award from Ms.J.Jayalalitha, The Chief Minister-Tamil Nadu.
