The history of Bhau Daji Lad Museum reveals that it was planned with an amount of Rupees 6,000, at the initiative of Dr. Bhau. The marvelous structure of building had lost its sheen with the times, but thanks to Indian National Trust for Art and Cultural Heritage, Mumbai (INTACH) that is renovating the museum with utmost care. The treasury comprises of more than 6000 valuable artifacts, including sculptures, pottery, coins, ivory work, paintings, etc. It has special sections on the social and cultural life in India also.
Apart from the above compilation, the museum has over 4,000 reference books and manuscripts in its supervision. The clay models, costumes, finely shaped silver, copper ware etc, are amongst the most-cherished compilation which is worth taking a glance. Victoria & Albert Museum also contains atypical photographs of early Bombay and testimonials from the colonial past. The half-done collection was first exhibited to Lord Canning in 1856. Today, Bhau Daji Lad Museum is revived in its appearance, with gold ornamentations on wall corners, ceilings, hand railings and blue-painted pillars.