The 24-year-old actress most recently appeared in the comedy sequel Housefull: The Dirty Dozen.
She told the Hindustan Times: "It's a film about a big rave party. I'm very excited about that."
Padamsee made her acting debut opposite Ranbir Kapoor in the flop Rocket Singh: Salesman of the Year.
Since then, she has had successes in Southern cinema with Kanimoghzi and Orange.
In March, the star admitted that she is keen to return to the theatre.
Despite her chequered career so far, she has claimed she feels "comfortable" in Bollywood because of her advertising guru father's roots in the entertainment industry.