At least three people have been killed after a five-story residential building collapsed in the Indian financial hub of Mumbai early Friday, authorities said.

Dozens of people are feared to be trapped in the wreckage of the city’s latest building disaster.

“It’s a pancake collapse,” said Sachidanand Gawde, deputy commandant at the National Disaster Response Force (NDRF). “The exact number of those trapped under the debris is not known,” he said.

Around 40 people are feared to be buried in the rubble, CNN’s sister network IBN reported, citing the disaster officials.

Of the 15 people recovered from the ruins so far, three have died and 12 are being treated for their injuries at the city’s JJ Hospital, Gawde said.

Several buildings in the Mumbai area have crumbled this year, one of them with disastrous consequences.

Housing rights groups say many old buildings in the city are rundown and neglected, while newer ones are often built using substandard materials and have structural problems.

People live in them because they don’t have a choice — in Mumbai, demand for housing far exceeds supply. About 65% of the population is estimated to live in slums, the groups say.