Despite unprecedented wealth accumulation, coastal Mumbai suffers from a myriad of socioeconomic and ecological challenges as well as connected uncertainties. These include endemic flooding, shrinking of sensitive ecosystems, inequality, and marginalisation of natural resource-dependent communities, such as fishers. These are in addition to existing risks, including building collapse, fire hazards, infrastructure collapse, industrial accidents, and landslides. The spectre of climate change looms large and further complicates the situation. Urban governance mechanisms and strategies respond insufficiently to the growing threats the city faces. More needs to be done to manage and address these uncertainties through a strategic, adaptation-focused, and communicative urban governance framework that emphasises both reducing risk and strengthening social justice.