Rani, who last worked with Karan in Kabhi Alvida Naa Kehna, plays a sexually repressed wife and she has done a great job, said the film's spokesperson.
"Karan is very happy with the outcome. Not only Rani has proved her talent once again, but Randeep, who plays Rani's husband in the film, has also done a great job," said a source close to Karan.
Shot in Bandra and Dahisar in Mumbai, the film also stars Saqib Saleem.
Bombay Talkies is being made to celebrate the 100 years of Indian cinema. It has four segments directed by Karan Johar, Zoya Akhtar, Dibakar Banerjee and Anurag Kashyap, respectively.
Set to release on May 13, the first theatrical trailer of Bombay Talkies is being unveiled Monday at a multiplex in Mumbai.