Karan, one of the most successful filmmakers in Bollywood, will turn 40 Friday.
"It's like a big event in our calendar. Everyone has been planning for it for a very long time - like who is wearing what, who is doing hair and who is doing make up?" Deepika told reporters.
"It is going to be a big event. I am very happy for him. He is someone I am extremely fond of and I think it's his energy... the minute you are with him he just makes you feel so happy and light-hearted. He makes you feel so young, " she added.
As per reports, Aditya Chopra, Shah Rukh Khan and his wife Gauri Khan, Hrithik Roshan, Ekta Kapoor, Kareena Kapoor, the Bachchans, Salman Khan, Aamir Khan, Ayan Mukerji, Karan Malhotra, Tarun Mansukhani, Puneet Malhotra, Shakun Batra, among others, are expected to come for the bash.
Deepika met Karan while shooting for Farah Khan's "Om Shanti Om". It was her first Hindi film and she had teamed up with Karan's good friend Shah Rukh in it.
"I remember meeting Karan when I was doing 'Om Shanti Om'. Farah and Shah Rukh introduced me to Karan and I remember how warm he was towards... he encouraged me when I came into this industry and because of such people, who supported me so much, I am here today, " she said.