Gupta, 45, who started filming the Aishwarya Rai Bachchan-Irrfan starrer earlier this year, took to twitter to announce that the project is in its final stage.
"I am in a very seriously transitional space right now as 'JAZBAA' is getting over and I am beginning to get into my next," wrote the "Kaante" director.
"One film ends the other begins. Can't let go of one, can't wait to start the other. Seriously mixed emotions," he said.
Slated to release on October 9, "Jazbaa" is an action-drama film, which marks Aishwarya's comeback after a five-year absence from the big screen.