Before the events of the film unfold, Krishna has taken drastic action against his elder brother by setting his motorbike ablaze, a response fueled by incessant bullying. His furious mother decides to take him to the neighboring Apollo Circus, delivering an ultimatum — he can only return home after earning 500 rupees to compensate for the damage. Accepting this challenge, Krishna embarks on a journey working for the circus.
As the story commences, the circus is about to relocate to a new venue. When Krishna is sent on an errand and returns, he is devastated to discover that the circus has abandoned him. Alone and without the means to repay his mother, he makes his way to Bombay. Unfortunately, upon his arrival, he becomes a victim of theft, losing the little he had. In a twist of fate, he crosses paths with the thieves, befriends them, and finds himself in the notorious red-light district of Falkland Road near the Grant Road Railway Station.
Among these thieves is Chillum, a drug dealer entangled in addiction, who becomes Krishna's unlikely mentor, helping him secure employment at the Grant Road Tea Stall. The local drug lord, Baba, hires addicts like Chillum to work for him. Rekha, Baba's wife, struggles with the life she leads as a prostitute while raising their daughter, Manju, in a harsh environment. Though Baba has promised to create a better life for them, he continually fails to uphold this commitment.
Embracing a new identity as "Chaipau," Krishna tries to adapt to his harsh new surroundings while still focusing on his goal of returning home. However, saving money proves to be a significant challenge. Complicating matters further, he develops feelings for Sola Saal, a young girl recently forced into the brothel. In a desperate act to free her, he sets fire to her room, but their escape attempt is thwarted. Krishna receives a brutal beating, while Sola, who is still a virgin and considered valuable, tearfully resists her fate. Baba is then instructed to "tame her."
As Krishna continues working at the tea stall, he also undertakes a variety of odd jobs to support Chillum, who becomes increasingly dependent on drugs following his dismissal from Baba's employ after a disastrous encounter with a foreign journalist. One of Krishna’s odd jobs leads him to lose his position at the tea stall, prompting him to join his friends in robbing an elderly Parsi man in daylight. To his utmost sorrow, he later discovers that Chillum has stolen all his saved money for drugs, leading to Chillum's overdose and demise.
One fateful evening, while out with friends, both Krishna and Manju are captured by the police and sent to a juvenile home. Krishna manages to escape and returns to his dangerous world, only to find that a new recruit has taken Chillum’s place in Baba's drug ring. Krishna attempts to persuade Sola to flee with him, but she confesses her infatuation for Baba and her reluctance to escape, only to be led away to serve her first client. Meanwhile, Rekha learns that the authorities will not release her daughter due to her profession as a prostitute. Fueled by anger and desperation, she tries to leave Baba, who brutally retaliates.
In a moment of rage, Krishna intervenes, leading to Baba's death. As he attempts to flee with Rekha, chaos ensues during a Ganesh parade, resulting in their desperate separation. The film concludes with a poignant close-up of Krishna's disheartened face, leaving viewers to ponder the harsh realities he faces.
