Directed by Anu Menon, 'Waiting' features Naseeruddin portraying the character of an old-school Philosophy professor while Kalki, 32, plays a modern advertising professional.
"The thought of working with Kalki was delicious and I have to say she is utterly fantastic. She was absolutely the right choice for this part," Naseer said in a statement.
The film chronicles the story of both the characters who grapple with grief.
Shiv and Tara strike an unlikely friendship when they meet each other in a hospital while nursing their respective comatose spouses.
The 'Ishqiya' star has earlier worked with Kalki in the Anurag Kashyap-directed 'That Girl in Yellow Boots'.
'Waiting' is scheduled to release on May 27.
