"It's our way of honouring him and his craft, everything he has done and achieved, to celebrate him and everything he stands for. As friends it gives us something to hold on to," Pragya said.
Sushant made his Bollywood debut as an actor in the Abhishek Kapoor-directed "Kai Po Che" (2013), and the actor-filmmaker duo also collaborated on "Kedarnath" in 2018.
Abhishek and Pragya were present at Sushant's funeral ceremony, which took place on June 15.
Mourning the demise of Sushant, Abhishek took to social media, calling him "interstellar". He wrote: "I am shocked and deeply saddened by the loss of my friend. We made two very special films together. He was a generous and fabulous actor, who worked very hard to breathe life into his characters. I pray for his family, whose loss is unmeasurable. He was a huge Science buff and what consumed by what lay beyond in the universe. I'm going to miss you brother. Stay interstellar."
The charity gesture initiated in Sushant's honour will be conducted via Pragya's NGO Ek Saath: The Earth Foundation.
Sushant breathed his last on June 14. He was found hanging at his home in Mumbai.