Over 3,500 people from the adjacent residential high-rise have been evacuated, while five fire brigade personnel including a deputy fire officer have been injured in the dousing operation, they said.
All five were discharged from hospitals after treatment, said an official of the Brihanmumbai Municipal Corporation.
By Friday afternoon, the blaze had been contained on all sides, the civic official said.
As many as 88 water tankers were pressed into service, he said.
The fire erupted on the second floor of the basement-plus-three storied City Centre Mall on Thursday at 8.53 pm.
Around 300 people were rescued from the basement.
A BMC release had said earlier that the Mumbai Fire Brigade had given a ‘brigade call’ in which fire engines are called from all agencies in the city.
The fire erupted in a mobile shop on the second floor of the mall, which mainly houses shops for mobile accessories, besides a few other stores.
The BMC said around 3,500 residents of the 55-floor Orchid Enclave tower adjoining the mall were shifted as a precautionary measure.
The fire was initially categorised as level 1 (minor) but was upgraded to level-3 at 10.45 pmand to level-4 at 2.30 am, after flames spread to other parts of the building.
Mumbai mayor Kishori Pednekar visited the site and reviewed the fire fighting operation.
According to fire brigade officials, the exact cause of the fire was not yet known.
Earlier on Thursday, a fire broke out in a garment factory at Kurla in Mumbai. It was doused after two hours.