Fernandez was born on 11 August 1985, in Manama, Bahrain, and was raised in a multi-ethnic family. Her father, Elroy Fernandez, is a Sri Lankan Burgher, and her mother, Kim, is of Malaysian descent. Her maternal grandfather is Canadian. Her father, who was a musician in Sri Lanka, moved to Bahrain in the 1980s to escape civil unrest between the Tamil and Sinhalese and subsequently met her mother who was an air hostess.
She is the winner of the Miss Universe Sri Lanka pageant of 2006 who predominantly works in Bollywood. In 2009, she debuted in Bollywood with the movie Aladin and since then has established a career in the industry. Born into a multiracial family of Canadian, Sri Lankan, and Malaysian descent, Fernandez was raised in Bahrain. After graduating in mass communication from the University of Sydney and working as a television reporter in Sri Lanka, she joined the modeling industry. She has crowned Miss Universe Sri Lanka in 2006 and represented her country at Miss Universe 2006.
Fernandez had her breakthrough role with the psychological thriller Murder 2 (2011), her first commercial success. This was followed by glamorous roles in the commercially successful ensemble-comedy Houseful 2 (2012) and the action thriller Race 2 (2013), which garnered her an IIFA Award for Best Supporting Actress nomination. Fernandez went on to star in the top-grossing action film Kick (2014) and the comedies Housefull 3 (2016) and Judwaa 2 (2017).