"We have always wanted to make the third film but it is getting delayed because it shouldn’t look like we are making it only to encash it," said Hirani.
The third instalment was named "Munna Bhai Chale Amerika", but it was shelved. Now the new movie in the franchise is said to be called "Munna Bhai Ki Aatma Katha".
"We want the third to be better than the previous two. So, it is getting delayed because script-wise it still needs to be strong…but we will definitely make the third film," the 49-year-old said.
He spoke on the sidelines of a festival to celebrate producer Vidhu Vinod Chopra’s three decades in the film industry.
Hirani confirms that actors Sanjay Dutt and Arshad Warsi, who played Munna and Circuit in the earlier two films respectively, will continue playing the primary characters.
"Sanju is Munnabhai, I can’t imagine anybody else as Munnabhai. Sanju and Arshad as Munna, Circuit," he said.
Sanjay says being a part of "Munna Bhai" changed his life for good.
"From my career, my daily life to my image, everything has changed because of ‘Munna Bhai’, it’s so important," the 52-year-old said here at the event.
"It is a memorable film, a memorable role. Actors very rarely get a chance to do such a role and I think I am lucky," he added.
In the 2003 film "Munna Bhai M.B.B.S.", Sanjay played a faux medical student, who has a different, endearing way of treating people.
In the second film "Lage Raho Munna Bhai", he played a faux professor, and the movie became popular for Sanjay’s ‘Gandhigiri’ — his practice of using non-violent methods to solve people’s personal problems.
Sanjay is currently shooting for "Race 2", "Zilla Ghaziabad", "S.O.S.- Son of Sardar" and "Department."