Pestonjee is a comedy drama. The movie follows the story of two best friends - Phiroj (Naseeruddin Shah) and Pestonjee (Anupam Kher). They meet a beautiful girl named Jeroo (Shabana Azmi) and fall in love with her, but Phiroj steps back and lets his friend marry Jeroo. Soon after, Phiroj moves out of the city, but keeps in touch with Pestonjee through letters. He learns that the couple is expecting a baby, and decides to pay them a visit. However, once there, he learns that their married life is not at all like he imagined. Pestonjee is living with his mistress Soona (Kiron Kher), while Jeroo aborted the child because of the fear of dying during childbirth like her mother. The events in their life makes them realize that things won't always turn out to be the way they want, and everyone has to embark the journey to find their own happiness in different forms.