Punjab, who were up 3-0 after the first two quarters, scored the goals via successful penalty corner attempts by Varun Kumar (2nd minute), Mark Gleghorne (13th) and Christopher Ciriello (25th).
Later Nithin Thimmiah added a field goal in the 40th minute to virtually settle the issue as it counted as two to give the visitors a massive 5-0 lead.
A consolation goal came Mumbai's way through a last-gasp penalty corner effort, when Jeremy Hayward found the mark.
The victory took Barry Dancer-coached Punjab level on points (27) with Ranchi Rays who they will play against tomorrow at the latter's home venue.
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Mumbai, who have games in hand against Ranchi Rays (February 14 in Ranchi) and UP Wizards (February 16 at home) remained at the bottom of the table with 19 points.
The lack of an effective penalty corner variation cost Mumbai in the very first minute of the game when they earned the set-piece award but captain, Matthew Swann, did not stop the ball properly and it went waste.
Punjab, on the other hand, succeeded with their first two penalty-corner awards through different takers to take a stranglehold on the game at the MHAL Mahindra Stadium.
They hit back immediately after conceding the first short corner by earning an award for themselves and Varun Kumar beat David Harte under the Mumbai bar, with a high shot to the custodian's right.
Encouraged by the early 2nd minute lead, Punjab attacked with vigour with India skipper Sardar Singh orchestrating the moves superbly from the typical centre half position and also running forward to give extra support to the front liners.
The first quarter ended with Punjab up 2-0.
Mumbai made an early foray in the second quarter but Gurmail Singh's attempt was foiled.
Punjab earned two penalty corners in succession, close to the end of the quarter and scored off the second, their fourth overall.
Their main penalty corner striker Christopher Ciriello took the shot and beat Harte to left side to help the visitors break for half time with a handy 3-0 lead.
The teams adjourned after the third quarter with Punjab leading by 5-0. The last goal of the match, by Mumbai, came at the very end as a consolation.
But the home team, which had gained a point from each of the first four defeats by not losing by more than two goals, failed to get one from its fifth defeat.