Before stepping into films, she started her career as a theatre actor in Delhi with Asmita Theatre Group.
She made her acting debut in the film 'Gangster' in 2006.
Ranaut bagged Filmfare Best Female Debut Award and IIFA Best Female Debut Award for her first film.
Some of her Bollywood hits are Woh Lamhe, Life in a... Metro, Fashion, Raaz – The Mystery Continues, Once Upon A Time In Mumbai, and Tanu Weds Manu,Double Dhamaal.
She won National Film Award for Best Supporting Actress and Filmfare Best Supporting Actress Award for the film 'Fashion'.
Her upcoming movies are Shootout at Wadala, Tezz and I Love NY.