He is the younger brother of Mahesh Bhatt, and also the co-owner of the production company Vishesh Films, set up in 1986. He is the uncle of Pooja Bhatt, Rahul Bhatt, Alia Bhatt, Shaheen Bhatt and Emraan Hashmi. Bhatt’s first film as producer was Jurm (1990) with Vinod Khanna, however, the film was not very successful.
Then he combined with Gulshan Kumar to produce the love story, Aashiqui (1990), starring debutantes Rahul Roy and Anu Agarwal.
The films that followed Aashiqui were all big hits. These included Dil Hai Ki Manta Nahin (1991) and Sadak (1991) released under the banner of Vishesh Films.
All of these films starred Pooja Bhatt along with prominent actors like Aamir Khan, Sanjay Dutt and Rahul Royal Bhatt produced more films in the following years, such as, Sir (1993) starring Naseeruddin Shah, Naajayaz (1995), Criminal (1995), and Fareb (1996).
The 1998 film Ghulam, was yet another success for the producer.
In 1999, Sangharsh starring Preity Zinta and Akshay Kumar was successful venture for the producer, while the horror films Raaz (2002), and its sequel Raaz – The Mystery Continues (2009), both were received positively. His recent ventures as producer include, Zeher (2005), Kalyug (2005), Gangster (2006), Woh Lamhe (2006), Jannat (2008), Tum Mile (2009) and Crook (2010).