The Matru Ki Bijlee Ka Mandola actress stars with Aamir Khan in the Raju Hirani-directed film.
Speaking to IANS, Sharma said: "I am very excited to be working with Raju Hirani and Aamir Khan. We will start shooting for the film in February. I hope we try to make a better film than 3 Idiots for the audience."
The 24-year-old actress, who made her Bollywood debut opposite Shah Rukh Khan in Rab Ne Bana Di Jodi, said she was happy with the reception to Matru Ki Bijlee Ka Mandola, which is reportedly Vishal Bhardwaj's most successful film.
"I am happy that my film is doing well because I have got lot of compliment for my work," said Sharma.
The Jab Tak Hain Jaan star, who has been cast with the industry's leading men, has been described as the most talented actor in Bollywood.
Sharma recently said that she does not plan to be an actress forever and that family is a priority.
Watch Sharma in the song 'Oye Boy Charlie' from Matru Ki Bijlee Ka Mandola below: