The film will reunite the original cast Riteish Deshmukh, Vivek Oberoi and Aftab Shivdasani. The makers have also roped in Shreyas for the movie.
"It was a great opportunity and I wanted to work with this team on this hilarious film. I would be doing a cameo in 'Great Grand Masti' but it is an important role. My character comes at an important juncture in the film," Shreyas told PTI.
Some actors are comfortable doing adult comedy films, while others are not.
There were reports that the "Iqbal" actor was offered the Dhoni biopic.
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On this he says, "I haven't been approached for it yet. I think it's just a rumour."
The biopic "M S Dhoni: The Untold Story" is a film based on Indian cricketer Mahendra Singh Dhoni's life which will be directed by Neeraj Pandey of "Wednesday" fame.
Also, Shreyas is back on TV, this time as a producer of a daily soap "Tumcha Amcha Same Asta".
"It is inspired from real life stories of a lot of celebrities, sports and political personalities. There are a lot of elements from real life." he added.