So this is just an endorsement: Maya Goded's The Prostitutes of La Merced. The one in particular is here.
Has anyone attempted a similar project in Bombay, or elsewhere in India?
One Naresh (you know who you are) reminded me of Mary Ellen Mark who did such a project, on Falkland Road in the late '70s. Her book on the subject is Falkland Road: Prostitutes of Bombay. Akshay (in comments) points to a Digital Journalist photo essay of some of Mark's photographs.
Stunning, sometimes heart-breaking shots.