The fire started after 12:30 am on the third floor of the building on Senapati Bapat Marg, a commercial hub of the city, a police official said.
More than six fire tenders, four water tankers, emergency ambulance and police rushed to the spot for rescue operation, he said.
The building, in Central Mumbai, houses some commercial establishments including hotels.
Three persons with serious burn injuries have been taken to the Breach Candy hospital, the official said.
"It's a Level-II fire and we have mobilised our resources. The fire fighting and rescue operation is going on," he said, adding that the exact cause of the fire is yet to be ascertained.
Fire at Kamala Mills. Reportedly, #1Above burnt down. London Taxi, Zoom, Times Now affected. pic.twitter.com/I5OtYsE9ph
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