The 29-year-old has set a target for when he can fully train with the Celtic side again.
The versatile Bhoys star has been suffering from a knee injury and admits he rushed his comeback slightly last time he tried to return to action.
As such, the Celtic man wants to make sure he is completely ready to return to the first-team fold before taking any forward strides, although he is hopeful things can move along when the Scottish Premiership season resumes after the brief international interlude.
"It's going well. There's still a bit of swelling in the tendon and hamstring so it'll take a bit of time. It'll taking a wee bit longer than it was meant to," Mulgrew told Sky Sports News.
"This time, I need to make 100 per cent sure everything's okay before I get back. But, hopefully after the international break, I'll be ready to fully train and we'll take it from there."
On Celtic's treble chances, meanwhile, the 29-year-old has urged caution - but admits this is a 'great opportunity' for the Bhoys.
Ronny Deila's side have already secured one trophy for the cabinet (the Scottish League Cup) and are into the last four of the Scottish Cup, while also holding a three-point lead at the top of the league with a game in hand.
Mulgrew, though, understands that the whole Celtic squad will be required at the business end of the campaign - and is erring on the side of superstition when it comes to not talking too much about the possibility of winning all three domestic trophies available.
"I don't want to talk too much about it. It's a great opportunity but we're not getting carried away," the injured Celtic man said.
"There are a lot of hard games coming up, the whole squad's going to be needed. It's all about taking it game by game."