Hi Aamir,
You could use the circuit you provided. You could even simplify the measurement and make the strain guage connections similar to an RTD measurement using current excitation (by removing R1, R3 and R4 and connect R2 to R5 in series). You need to consider the effect of self heating in this case, so you may want to reduce the current. You can make the measurement ratiometric by using the voltage developed across R5 as the reference voltage. In this way the strain guage resistance is a ratio relative to the value of R5.
Best regards,
Bob B