- Birthday: 23. February 1969
- Birthplace: Mumbai, Maharashtra, India
Bhagyashree hails from the Patwardhan royal Marathi family of Sangli in Maharashtra. Her father is Vijay Singhrao Madhavrao Patwardhan, is the current Raja of Sangli. She is the eldest of three daughters, the other two being Madhuvanti and Purnima.
She started her acting career with Kachhi Dhoop – a television serial by Amol Palekar. It was based on Louisa Mary Alcott's Little Women. Her rendezvous with acting happened by chance when next door neighbor Amol Palekar, a renowned actor-director, requested her to step in and act in his serial Kacchi Dhoop as the actress who had been signed on had abandoned the serial abruptly. The serial did well and later on she had roles in Honi Anhoni and Kisse Miya Biwi Ke.
After marriage, she acted in three films: Peepat's Qaid Main Hai Bulbul, K.C. Bokadia's Tyagi and Mahendra Shah's Payal all opposite her husband Himalaya in 1992. She also acted with Avinash Wadhawan in Ghar Aaya Mera Pardesi (1993). This was her last Hindi film in the 90s and she took a break from films for rest of this decade. She made her Telugu debut in the film Yuvaratna Rana (1998).