Rare Pics: Sreelatha, Sridevi and Rajeshwari: Superstar with her sister and mother:

The Ayappan Girls: Sridevi, flanked by her younger sister Sreelatha (L) and mother Rajeshwari (R). 

A fan pointed out - this is at the grand Mumbai premiere of Mr.India. 

Mr. India held its grand premiere on May 25, 1987, followed by its nationwide theatrical release on May 29, 1987.   The premiere took place at the Metro Cinema in Bombay (now Mumbai), India. The star-studded event brought together the film's cast and crew—including lead stars Sridevi and Anil Kapoor, director Shekhar Kapur, producer Boney Kapoor, villain Amrish Puri, and music director Laxmikant—alongside prominent Bollywood figures.

However, here, we only see Sridevi with her mother Rajeswari Ayappan and sister Sreelatha Ayappan!