The Pakistani popstar-turned-actor is expected to reunite with director Abhishek Sharma on the project, Mumbai Mirror reports.
Confirming details of a potential follow-up, Sharma commented: "It's a possibility but I am not sure when it is going to happen."
The filmmaker added: "Only if the sequel is better than the original, will we make it. Right now I'm working on a fresh script."
The 2010 surprise hit comedy marked the Bollywood debut for singer Zafar.
The 30-year-old actor is currently filming Mere Brother Ki Dulhan with Imran Khan.
