I got a tip about this place from a friend who was looking for a decent hostel for her University attending son..she did recommend it for out of town visitors on short visits.
There are two sections..one for working males and the the other, across, on the opposite side of the building. Rooms are clean,airconditioned, decent attached bathroom, LCD TV with cable and the best, is the location.A quiet street, next to Colaba (less than 5 minutes walk).
The only problem is Food! There is a Canteen type of place..which will serve you basic breakfast..(not included in tarrif), but reasonably priced and edible, but no room service.One has to walk across to the other side for this.Its strange, if you need mineral water, they will send it to the room, but if need Tea in the morning..that is not allowed??
Room tarrif for a double is Rs 2000, which is reasonable for a city like Bombay. There are an amazing amount of other food options around Colaba, so that did help. Its definitely more than a hostel!!