Preeti was born in the Sindhi-speaking Jhangiani family on August 18, 1980 in Mangalore, Karnataka, India. She used to study in St. Xavier's College, in Ahmedabad. She is fluent in Sindhi, Hindi, English and also has some knowledge of Malyalam and Telugu.
Preeti first made her appearance in a music video titled 'Chui Mui' from Rajshri opposite South Indian actor, Abbas. This video became a hit, and so did Preeti, Abbas, as well as the Koala bear icon. This paved her way to appear in two movies during the year 1999 - one each in Malyalam and Telugu.
She made her debut quite dramatically with 'Mohabbatein' opposite Bollywood stalwarts such as Amitabh Bachchan, and Shahrukh Khan. This movie was a huge success and virtually launched her career, even though she played the role of a young widow.
She started receiving many offers, but before she could commence filming, she became seriously ill. Her looks and weight suffered considerably due to consumption of strong antibiotics, and she lost all the offers that had come her way. She did recover and did manage to pick up where she had left off. As of August 2007, she has appeared in a total of 15 movies, 13 of which are in Hindi.
Formerly engaged to Mushtaq, the brother of film-maker, Feroz Nadiadwala, she instead got married to Parvin Dabas on March 23, 2008.