"Leave aside starting a film, the maverick director has yet to zero in on a subject and begin work on the script of his next," said a source close to Bhansali.
"Padmavati" is Bhansali's version of a 1923 ballet written by Albert Roussel and it staged its first performances in countries like Italy and France.
"He will first release the Prateik-starrer 'My Friend Pinto' directed by Raghav Dar. And only after that he will contemplate starting his own film. But right now he's focusing on the post production and promotional campaign of 'My Friend Pinto', which is his first big production venture."
"But 'Padmavati' is out of question and the stories are baseless," added the source.
But Bhansali is keen to work with Kareena.
"Sanjay wants to work with Kareena. He feels that she is very skilled actor and wants to cast her in a role that will rewrite history. Sanjay feels that Kareena is a powerhouse of talent and needs to be exploited to the fullest," said the source.
"Sanjay has not even started writing his directorial venture...his mind space is occupied by '...Pinto' completely. '...Pinto' is his pet project and he's leaving no stone unturned in making it a huge hit. Everyone is already talking about 'Prateik.. '...Pinto' will be the surprise package of the year."
Bhansali's last release was Aishwarya Rai and Hrithik Roshan starrer "Guzaarish".