Sriram made his directorial debut in 2004 with 'Ek Hasina Thi', a thriller which had Saif in the lead and then he cast him again in a spy thriller film 'Agent Vinod' (2012).
"We have a team of writers and we are working on something with Saif. It is too early to talk about it. The last film 'Agent Vinod' that I did with him did not do that well so I owe it to him," Sriram told PTI.
The 'Johnny Gaddar' helmer is known for making taut thrillers loaded with action, anger and romance.
"There are so many things to do in thriller space. I will stick to that genre (with Saif) but there are other things to explore with thrills," Sriram said. Sriram and Saif bond very well and the 'Badlapur' director thinks Saif, who is going through a bad phase professionally will bounce back soon.
"I think he is a fantastic actor. He has had a bad spell of movies but that shouldn't hold him down. Every actor, director everybody goes through ups and downs. It's ok... He will shine," he said.
Last few films of Saif including 'Bullet Raja', 'Humshakals' and 'Happy Ending' had failed to create magic at the box office.
The 44-year-old actor will be seen next in Kabir Khan's 'Phantom' and Vishal Bharadwaj's 'Rangoon'.