Shared (or virtual) web hosting is the entry-level way of hosting web sites.
It means that a web hosting company (mumbaihosting.com) will have one or more servers (computers constantly connected to the Internet that run a web server software) that will be running multiple web sites of different customers.
Shared Hosting Websites share common resources among themseleves such as CPU time, Memory etc. Unless your web site is exceptionally busy or requires a lot of resources, this is the least expensive way to get a real web site, but it is the least secure also.
It is not recommended if you are hosting valuable data such as your clients login details, credit card details or you create customised content which is being offerred to Paid customers…. etc.