'Munaruna' is a Tamil worker in 1960s Burma. His friend Saamuda falls in love with Mallika, but Mallika loves Munaruna. Munaruna saves Samudra, the daughter of a Burmese army general, from a Ferris wheel accident and they fall in love. When Mallika learns about this, she is devastated and marries Saamuda. The Burmese general disapproves of the union between Munaruna and Samudra, and revokes the privileges that the Tamil immigrants had until then. Violence breaks out and the Tamil nationals flee Burma. Munaruna and Samudra join the refugees on a ship with Saamuda and Mallika. When Samudra's father comes looking for her, Mallika spitefully reveals where they are hiding. As Samudra and Munaruna try to escape by diving into the ocean, Munaruna is shot and killed. Samudra handcuffs herself to Munaruna and drowns with him after promising to be together forever.

Back in Dr Radhika's office in present-day India, Samudra, now known as Madhu, tells Radhika has already met Saamuda and Mallika as Jagan and Meera, who are fellow programmers in the game development company where she works. Radhika dismisses this and gives Madhu medicine for stress. Madhu meets Ashwin, a new employee in her company, and seeing his resemblance to Munaruna, flirts with him. Kiran is their boss and he knows to extract work from employees with ease.

Meera hallucinates about ghosts that try to rape her and she jumps from the office window and dies. Madhu is disturbed and attends her therapy sessions with Radhika when she remembers her first birth where she was a princess in love with a king, who also resembles Ashwin. The two are killed by a traitorous officer in the king's army.

Madhu and Ashwin meet with a car accident and Madhu is admitted to a hospital. She dreams about overhearing policeman Gopinath's conversation about a couple named Kaali and Kalyani, when she intervenes and says that she knows their whereabouts. Once awake, she recites the dream to the policemen in the hospital and they are confused. Police commissioner Gopinath visits her and Madhu realizes that he looks like the police officer from her dream in the hospital. He says that the Kaali-Kalyani story was a missing person case that happened 25 years ago. Madhu claims that Kaali and Kalyani were killed and buried and takes Gopinath and Ashwin to a place where they dig up and find skeletons identified as remains of Kaali and Kalyani. Gopinath finds a ring engraved with the letter R on one of the skeletons. Ashwin is confused as to what R may mean.

Madhu returns to her therapy, and Kiran hears about her hallucinations and rushes to the clinic. Madhu hallucinates about her third birth, where she is Kalyani, who falls in love with a rowdy Kaali. She tells Kaali to confess to his crimes and serve out his time in jail in return for her hand in marriage. Her father is displeased and forcefully arranges her marriage with RaviKiran while Kaali is in jail. Kaali escapes from prison and meets Kalyani and they plan to elope, but RaviKiran finds out and offers to help them. He takes them to a secluded spot where he murders the couple out of jealousy and buries them. The finger with the ring belongs to RaviKiran and is amputated by Kaali during the fight. RaviKiran unknowingly buries it along with the dead bodies.

RaviKiran later goes by the name Kiran - the same Kiran who owns the game company that Madhu and Ashwin work at. When he finds out that, as a child, Madhu learned the truth of Kali and Kalyani's death from Kalyani's father, he kidnaps and tries to kill her, and kills Kalyani's father. Ashwin finds video games with plots resembling the stories of Madhu's previous births and Meera's hallucination before her death. He finds a drug that the employees have been using to boost productivity, and realizes that Kiran has been giving illegal drugs to his employees to boost their creativity in order to profit with intense, uniquely themed games. As a side effect of the drug, his employees hallucinate, leading to Madhu's memories of her "past lives" and the recalling of the story of Kalyani as her own. Ashwin confronts Kiran, and in the ensuing fight, Kiran overpowers Ashwin. But Ashwin manages to defeat him and saves Madhu. Kiran is killed when a knife Ashwin threw into a tree falls onto Kiran's chest. Gopinath covers up the death as suicide, stating that Kiran killed himself for fear of dealing with the repercussions of his the illegal activities.

Ashwin and Madhu marry and honeymoon in Burma. As they playfully argue over whether Madhu's dreams had all been hallucinations or partly true, they pass by a log with a heart and the names of Munaruna and Samudra carved into it.