Polyhydroxyalkanoates (PHAs) are biodegradable polyesters which are synthesized by many bacteria. They are accumulated in tracellularly as carbon and energy reserves under certain conditions like, in the presence of excess carbon source. The oldest known such polymer is poly hydroxy butyrate (PHB). However, commercial exploitation of such polymers have not been seriously attempted due to several reasons and one such reason is that PHB is not flexible as expected. It has also been pointed out that if PHB is blended suitably with certain other PHAs like polyhydroxy valerates (PHV) then the resultant material is more strong and flexible than PHB. The present investigation is aimed at production of PHV along with PHB from Bacillus megaterium NCIM 2475 and the results show that this was made up of PHB-co-PHV when grown in presence of sucrose.