There are reports that Bhasali will begin shooting the period drama in September. The film is based on oppressive ruler Alauddin Khilji's obsession for Rani Padmavati.
Ranveer Singh will reportedly play Khilji, while Deepika, 30, will take on the titular role.
When asked about the project, Deepika said, "Why don't you ask Sanjay sir, he is here. He will be able to tell you. I think IIFA was a good platform to announce it. But then I don't know. I can't say anything at the moment. It is up to Sanjay to confirm."
The "Bajirao Mastani" star, who has wrapped shooting her debut Hollywood film "xXx: Return of Xander Cage", however said she will begin shooting her next film in September.
"I will begin shooting in the next two months for my next Bollywood film. I can't say which one," Deepika said on the IIFA Green carpet.
If things fall into place then "Padmavati" would be Deepika's third film with Bhansali, having previously collaborated with the director on "Ram Leela" and "Bajirao Mastani".
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