In 2016, Prasad received ‘Sant Tukaram Best International Marathi Film Award’ and Akhil Bharatiya Chitrapat Mahamandal Best Director Award at Pune International Film Festival for the film Rangaa Patangaa. He also won Best Rural Film and Best Director awards at 53rd Maharastra State Awards 2016. He also awarded as Best Debut Director at Sanskruti Kala Darpan Awards 2016 and Best Director and Best Screenplay at Pune Film Journalist’s Association’s Chitrapadarpan Awards 2017. He has received nominations for Best Director, Best Story, Best Screenplay and Best Dialogue for Sanskruti Kala Darpan Awards for the film Rangaa Patangaa. The film is selected for 16th River to River Florence Indian Film Festival 2016 along with Goa, Mumbai and Aurangabad International Film Festivals. Prasad received nominations of Best Film and Best Director at South Asian International Film Festival, Singapore for the film Video Parlour in 2018. The film received Official Selection for International Film Festivals of Pune, Orange City, Benguluru and Goa. He received Best Story Award for Kapus Kondyachi Goshta at Mumbai Women International Film Festival 2015 and Nomination for Sahyadri Cine Awards. He also received nomination for Best Dialogues at Filmfare Awards 2022 for Photo-Prem. A feature film Sumi, written by Prasad received National Award as Best Children Film at 68th National Awards and Prasad received nomination for Best Lyrics at Mata Sanman 2023. His short films and documentaries like Ek MR Ki Maut, Kaanch Ke Bartan, Racelessness, Shaaradeeya and Breaking Views have been acclaimed in different short film festivals and received many awards. Prasad has received Maharashtra State Government Literary Award for his book Short Cut, on short film making. His book Point of View is awarded by All India Marathi Publisher's association 2022 & by Maharashtra Sahitya Parishad for Creative Production 2023.