She studied in Jai Hind College, Mumbai.
She is fluent in Kannada, Sindhi, Hindi, and English. She first appeared in a Rajshri Productions music album Yeh Hai Prem opposite Abbas. This made them—as well as the koala bear symbol used in the album—famous.
Thereafter, she appeared in Nirma Sandal soap ads.
Her first film was in Malayalam alongside Malayalam star Kunchacko Boban which was called Mazhavillu. She made her Bollywood debut in 2000 with Mohabbatein.
The film was a blockbuster at the box office. Her next hit was the comedy Awara Paagal Deewana.
She also acted in Punjabi films such as Sajna ve Sajna.
Her latest acting assignment is a short film called The Masterpiece directed by Tanmay Singh. The film, which is about half an hour long, has Preeti as the solo cast. She plays the role of a fading actress.
Preeti stated in 2012 that she"d be making a comeback in the film industry after enjoying the bliss of matrimony and motherhood.