With this yet-to-be-titled film, Karan is set to launch two more newcomers.
"We will be launching a new girl with this film and a new director as well," he said without divulging any further details about the project.
Karan had launched Varun, son of filmmaker David Dhawan, Alia Bhatt, daughter of Mahesh Bhatt and model Siddharth Malhotra, in his directorial venture Student of the Year.
Karan's upcoming home production Hasee Toh Phasee will see model-actor Siddharth romancing Parineeti Chopra and is scheduled to release next year.
Whereas, Alia will be seen opposite Arjun Kapoor in 2 States, which is jointly produced by Karan and Sajid Nadiadwala.
Siddharth, Varun and Alia are still part of Karan's Dharma Productions. And Karan says he keeps advising and nurturing them.
"They are part of Dharma family and they are bound to us. We represent them as well," Karan said.Karan is also getting charged up to direct a film, which is a period drama. And he will begin work on it next year.
"I am still in the process of writing. I have no idea what it is. It is a period piece and I am working on it. It is the film my father had researched and I am taking it ahead. We might change a few things," Karan said.
Meanwhile, the filmmaker is quite excited to judge dance reality show Jhalak Dikhla Jaa yet again.
"I love the show and its format. I got familiar with the show soon. I love song and dance as it is an integral part of our films. I felt comfortable fitting into the scheme of things. And I feel fortunate to share the platform with Remo and Madhuri," Karan said.
In the promos of the show, Karan is dancing with co-judges Madhuri Dixit and Remo D'Souza.
"They made me do it... I was like I am a director and people are suppose to take me seriously. I can do simple dancing as I am a Punjabi and it is hereditary," Karan said.