The first is the sequel to Ishqiya and is called, until further notice, Dedh Ishqiya. Vishal, of course, will only be producing (and, one assumes, handling the songs and music). Shooting is supposed to start either at the end of 2011 or some time in 2012. It seems almost certain that Vidya Balan is not part of it while the other regulars are. It is unclear whether Kangna Ranaut and Madhuri Dixit will be part of the sequel.
The next is the much-hyped adaptation of Chetan Bhagat's 2 States and might (finally?) see Shah Rukh Khan collaborating with Vishal after the last opportunity for Mr. Mehta and Mrs. Singh came to naught. Rumours suggested that Priyanka Chopra was slated to play Ananya to SRK's Krish, but the actress has reportedly cleared that up: she is not part of the film (yet?). There are rumours that Asin might be the one, but rumours will be rumours. Things may start moving only in 2012.
Evidently bitten by sequelitis, Vishal is also working on Kaminey 2, but without Priyanka Chopra. More is not known.
The thread with the most surprises, however, has been for a film called (currently) Daayan. This not only sees Vishal collaborating for the first time with Ekta Kapoor, but also has a very surprising choice for the male lead: Emraan Hashmi. Evidently, this choice drove several A-list actresses away, including Rani Mukerji, but the latest rumour indicates that Vidya Balan, who did not make the roster of Dedh Ishqiya might snag the eponymous role. Little else is known about the film except for the premise of a guy doing the rounds with three lassies (which makes the choice of Hashmi not so surprising given his ouevre), one of whom is a witch.
Vishal is also working on what might well be the first in the pack to make it to the marquee: a romantic comedy with Ajay Devgn (TAFKA Devgan) and produced by Kumar Mangat. The title might surface in a few weeks.
After being a part of the launch of Mafia Queens of Mumbai by S. Hussain Zaidi and Jane Borges, Vishal has reportedly bought the rights to one of its chapters. Anything more might happen only after the cinematic adaptation of 2 States gets done (or abandoned).
[Cross-posted on the Vishal Bhardwaj blog]