The thing that crossed my mind there was why weren't the hostels named after rivers, mountains, famous personalities like in other IITs. Our hostels were numbers one to ten. Hostel ten was also called the Ladies Hostel. Hostel seven was called the Lady of the lake by its residents.
Unlike the campus in Kharagpur which was far from any major city, Bombay campus was near Vikroli, a suburb of Bombay (Mumbai) and was easily accessibly to the city and homes of most students. As a result, some of the hostels became almost vacant during the weekends when the students left in droves to go home. However, certain hostels our hostel had quite a few people not local to Bombay and many of them stayed during the weekends.
Some hostels were called PG (Post Graduate) hostels, some (like hostel 3) was called "maggu" hostel because lot of studious students went there.