He also said that he will sport the clean shaven look in director Neeraj Pandey's untitled film.
"The new clean shaven look is for Neeraj Pandey's next film. I feel one of the most interesting part of an actor's life is the chance to keep changing your look," Sushant said in a statement.
"The mustache look in Savdhaan India @11 was not a planned move, it all just happened. As the show gained popularity my look too got identified with 'Savdhaan India', and the handle-bar moustache became famous. We just completed two years. It has been a fantastic journey with a great team, and I wish it continues for a long time to come.
"I want to thank the viewers, and I hope they'll continue to love me as they always have. The new clean shaven look is my way of saying thank you to my audiences and well-wishers," he added.
The 42-year-old is known for his work in films like "Jungle", "Sehar" and "Yeh Saali Zindagi".