Banerjee, known for projects like "Khosla Ka Ghosla", "Oye Lucky! Lucky Oye!" and "LSD: Love, Sex Aur Dhokha", calls it a "promising and exciting" union.
"Adi (Aditya Chopra) and I have different and individualistic creative visions while sharing a tremendous synergy in our ambition to take Indian cinema to new milestones at home and abroad.
We decided to embark on this venture almost immediately after our very first meeting," he said in a statement.
The filmmaker is looking forward to capitalise on YRF's "tremendous presence, reach and experience" to create "trendsetting yet entertaining content for a really wide audience".
"I see tremendous potential in Adi's concerted plans for getting into co-production agreements with diverse, like-minded filmmakers," he added.
The specifics of the slate are still under discussion. However, it is sure that Banerjee will go behind the camera for two movies.
His long-time associate and the writer of the path-breaking "LSD: Love Sex Aur Dhokha", Behl, will make her debut as a director with the third film in the deal.
