This dark comedy revolves around Shyam (Mohanlal), a silver tongued but essentially likeable weasel. He's a flirt, engaged to Sreekutty (Menaka). He doesn't have much luck with women, or his career, but when a bunch of opportunists seem to pop into his life with all kinds of dreamy offers, he bites. Suddenly, he finds himself stirring an ambitious fiancee soup, dating three air hostesses introduced to him by Lambodharan (Soman), and driving cars he doesn't own with the help of his friend, driver Kuttappan (Maniyanpilla Raju).
He rises to the occasion admirably. Even as he meticulously takes down flight schedules and itinerary details, he finds himself flummoxed on many a turn, where he lies magnificently through his teeth. Soon, he's 'in the zone', and a complete player, addicted to the thrills of infidelity.
And everyone is a co-conspirator. Mukesh is Anil, a smarmy stud with an exuberant lack of scruples. While managing to wangle his way to a promotion, a Mumbai trip, he looks up to Shyam, despite the obvious rivalry, Anil decides to move in as acolyte. Shyam is a pro, and wants Anil out of his life, but has to begrudgingly admit that he's a huge help with the ladies. Anil might act unflappable with others around, but grovels in front of Shyam to let him stay. Beneath the egos and competition, however, it's pretty visible that these two like each other.
Another one stirring the broth is Mrs. Dick aka Dickammayi (Sukumari), a moody chef whose husband was in Military, who eloped and married her sister. She has been warned about women in the house, but is unaware of her domestic duties would involve shuffling pictures in and out of photo-frames, and making three different kinds of dinner on the same night. Justifiably, she often flies off the handle and vainly demands a never-forthcoming raise.
Eventually, Shyam and Anil are devastated by the airhostess-surfing game they play. They've barely managed to disengage from a lethal imbroglio, and look set to quit while they're still ahead. Both men are exhausted, downbeat and seemingly resigned to their fate. Elena, one of the three airhostess (Lizy) starts feeling softcorner for Anil and they decide to lead a life together.
Shyam and Anil size each other up and sigh wearily, and just when they're going to throw in the towel, they solemnly make their decision. 'One for you, two for me,' Shyam mutters, as if it's the most natural thing in the world. Anil, equally cool, nods and seals the deal. But the commotion doesn't end over there. The other two air hostess finds ou that they have been cheated. By the end both Shyam and Anil realize their mistakes and Shyam decides to marry his "Murapennu", Sreekutty.