The film was received favourably by critics and became successful at the box office with gross earnings of Gomolo described "Urmila looking the glam girl as ever and superb performances", at the 41st Filmfare Awards, Rangeela was nominated for 12 awards including a Best Actress nomination for Matondkar.
She is particularly known for her work in the thriller film genres, and is cited in the media as a sex symbol.
She is the recipient of numerous accolades, including one Filmfare Award among six nominations.
The box-office flop Kudrat a came next the film was not well received by critics.
In 1999, Matondkar had six film releases; four of them —Jaanam Samjha Karo, Hum Tum Pe Marte Hain, Mast and Dillagi —were critical and commercial failures.
Urmila returned to film as the female protagonist Mili Joshi, in the romantic comedy Rangeela (1995).
Featured opposite Aamir Khan, the film relates the story of two people with contrasting personalities.Matondkar has also played leading roles in lesser-publicized films of independent filmmakers, including the dramas Tehzeeb (2003), Pinjar (2003), Naina (2005), Maine Gandhi Ko Nahin Mara (2005), Bas Ek Pal (2006), and the Marathi film Ajoba (2014). Urmila's first role as a child artist was in 1977 in the film Karm.In addition to acting in films, Matondkar is involved with several humanitarian causes and is vocal about issues faced by women and children. She has a younger sister Mamta and an elder brother Kedar who was in Indian Air Force as an Aircraft Maintenance Technician. Following minor roles in Shreeram Lagoo's Marathi film Zaakol (1980) and Kalyug (1980), she achieved success at the age of 9 in Shekhar Kapur's Masoom in 1983.In 1998, she earned critical acclaim for her performance in Satya, for which she received another Filmfare nomination.The film was received favourably by critics and the film was a big hit at the box office solidifying Matondkar's position as the leading lady of the 90's.Her film roles contributed to a then-new screen persona for a Hindi film heroine, in which she was known for her intense style and dancing skills.