Raj Khanderi tried to end his life by shooting himself in the head at around 2.30 PM while he was in his bedroom, an official of Navi Mumbai police said.
The builder, who sustained injuries, was rushed to the nearby Mahatma Gandhi Memorial Hospital, the officer said.
Police suspect that the builder was under depression.
His condition is said to be critical, police said, adding investigations are underway.
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44-year-old Khanderi, had come home as usual for lunch
At the time of the incident, his mother and the maid were present in the house, they said.
Police refused to give details on whether the builder had left any suicide note or not.
"We will record statements of the family members and other people concerned and are checking the call detail records of Khanderi to know who he was in touch with and whether he had received any threat calls," police added.