Fernandez was born and raised in Bahrain to a multiracial Eurasian family of Sri Lankan, Canadian, and Malaysian descent. 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 was crowned Miss Universe Sri Lanka in 2006, and represented her country at Miss Universe 2006.
This was followed by glamorous roles in the commercially successful ensemble-comedy Housefull 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).