The injured man - identified as Dindore Dixit - was rushed to the nearby Saifee Hospital. Commuters have been asked to use alternate routes.
Police officer Praveen Satpal said 36 injured people were hospitalized, some in serious condition.
35-year old Apurva Prabhu, 40-year-old Ranjana Prabhu, 32-year-old Zaheed Siraj Khan along with an unidentified person have died in the accident.
Prabhu and Tambe were employees of the G T Hospital, the officials said. "Railway doctors and personnel are cooperating with BMC in relief and rescue operations", the Ministry of Railways added.
The authorities began dismantling the remaining portion of the bridge late on Thursday night, PTI reported.
Brihanmumbai Municipal Corporation orders suspension for Executive Engineer AR Patil who supervised the structural audit work in 2017-18 and Assistant Engineer SF Kakulte who supervised the fix work in 2013-14. "Even after structural audit, the bridge collapsed".
"A high level probe into this incident has already been ordered".
"As per the information received, a part of foot over bridge near CSMT station in Mumbai collapsed".
Fadnavis said an ex-gratia payment of Rs 5 lakh would be made to the families of each of the dead, and Rs 50,000 to each of the injured.
"I have ordered a high-level inquiry into this unfortunate incident which puts a question mark over the authenticity of the structural audit of bridges carried out across the city", he added. Famous cricketer Sachin Tendulkar also took to Twitter and prayed for those who were injured in the bridge collapse. As per the local public, the bridge was crowded and mainly consisted of elderly people.
Andheri bridge collapse: Many students also couldn't make it to exams because of the bridge collapse. Once I go through it, the further course of action will be decided. However, we're extending all our supports to the victims.
Amid tragic scenes, some people were seen taking selfies with the debris of the bridge in the background.