Fox Star Studios is financing Anurag Kashyap’s next directorial project, Bombay Velvet, a period drama starring Ranbir Kapoor and Anushka Sharma.

Produced by Mumbai-based Phantom Films, the film is the first in a planned trilogy written and directed by Kashyap. The first film, scheduled to start shooting in July for release at Christmas, is the story of how Mumbai became a metropolis, set against the backdrop of love, greed, violence and Jazz.

Kapoor and Sharma will play lovers whose lives intermingle with the evolution of the city of Bombay, through the 1950s to early 1970s.

Kashyap said: “Bombay Velvet is my first film in a trilogy about Bombay, before it became a Metropolis. It’s a story that has always fascinated me and we have been developing it for about four years, and I am very excited that now its fully ready and we begin shooting this year.”

Fox Star Studios CEO Vijay Singh said: “We are delighted to partner with Anurag on his next directorial venture Bombay Velvet. One of the best storytellers we have today, Anurag will bring alive Bombay in its original glory.

“What will make this cinematic journey unique will be the presence of Ranbir Kapoor and Anushka Sharma as the lead protagonists. For us at Fox, Bombay Velvet is yet another example of high concept cinema that we want to be known for.”

Phantom Films is Kashyap’s joint production venture with producer Madhu Mantena, Vikas Bahl, who formerly headed UTV Spotboy Films, and filmmaker Vikramaditya Motwane (Udaan).

The company previously produced Kashyap’s Ugly, which screened in Cannes Directors Fortnight, and period romance Lootera, which is scheduled for release in India on July 5. Directed by Vikramaditya Motwane, Lootera stars Ranveer Singh and Sonakshi Sinha.

Sanford Panitch, president of Fox International Productions, which oversees Fox Star, added: “Anurag Kashyap is at the same time both an avant garde filmmaker and commercial Bollywood movie maker rolled into one.

“We are thrilled to be working with him and this extraordinary cast; hope its the beginning of many.”