Banana Leaf is an excellent place for people who haven't had the chance to try real South Indian food. My South Indian friends who've been there say that the food is pretty authentic. I'd previously tried yummy South Indian food thanks to my brother, who studied in Matunga and introduced us to the South Indian restaurants close to his college (I think one was called Sharda), but Banana Leaf makes life easier since it's closer to home. The menu covers vegetarian dishes from all the southern states, be it Kerala, Tamil Nadu, Andhra Pradesh or Karnataka.
The menu is divided into soups, wadai, idli, uttapams, dosa, rice plate, vegetable dishes, mini meals, accompaniments, snacks, sandwiches, desserts, and beverages. I'd strongly recommend skipping the sandwich section altogether... like they say, "When in Rome, do as the Romans," similarly when in a South Indian restaurant, focus on the South Indian food. So lets look at the different South Indian options available, and there are plenty!
You can start with soups, I've never tried the soups here, so I won't be able to comment. If you look at the wadai section and you're not worried about deep-fried food, you must try their mysore bonda... it's nice and fluffy and comes to you steaming hot and delicious. The other wadas taste pretty similar to the usual wadas you get at udipi restaurants, not really special. And being a Punjabi, I can't bring myself to try a dahi-wada at a South Indian restaurant, although I'm sure it'll be good. I can tell you my favorite thing from the idli section is the hyderabadi tomato korma with idli. This is a delicious dish with a thick, tangy tomato gravy and pieces of soft, spongy idli. It tends to be pretty spicy, so ask that they cut down on the spice quotient when you place the order (if your spice threshold is low).
I've never tried an uttapam at Banana Leaf, although the roasted onion garlic uttapam has caught my eye and is on my next-time list :) I've tried plenty from their dosa section... the rava masala dosa has to be my favorite, even though the amount of ghee on it makes me cringe. But it's really delicious, with different flavors and textures that hit your palate all together. I also love their udipi masala dosa, which is a regular masala dosa. They also have interestingly different-sounding dosas like honey coconut dosa, but so far I haven't been too experimental... I figured I'll try out all the authentic food and then move on to the exotic, different-sounding ones (if at all).
They serve three different kinds of chutneys with their dosa, uttapams, and idlis and all three are so delicious. I'm not a big fan of coconut, but at Banana Leaf, I'm a convert. Their coconut chutney is delicious (they have a green one and a white one). They also have this delicious red chutney that's tangy, spicy, and sweet, and it's my absolute favorite. The sambar at the restaurant is mind-blowing. It's a bit too spicy (even when you ask that it not be), but once you get past that blast of spice, you'll taste wonderful flavors... it's sweet, spicy, tangy... it hits practically every tastebud! And it's not watery like at some places - it's deliciously loaded with vegetables and lentils. What's sweet is that they'll give you unlimited sambar and chutney with your order and won't charge you for extras. I've also heard good things about their rasam, but I'm a sambar freak :)
If you don't want idli, dosa, uttapa, Banana Leaf also has other South Indian rice delicacies like bisse bille bhaath. This is rice mixed in with sambar and vegetables and is delicious, specially with a nice vegetable raita - the spicy, hot rice and the cold yogurt are a terrific combination. I haven't tried any other rice dish yet, but it's gonna be the tamarind rice or curd rice next time I'm there. They also have a hyderabadi biryani for biryani lovers. And I've always skipped their snacks section because that's largely different kinds of upmas and I'm not crazy about upma.
If you're not big on rice or rice based preparations, you could also get vegetables with appams or neer dosas or kerela parathas (another thing a Punju wouldn't do is have parathas at a South Indian restaurant, but I hear the parathas are nice). Try the Aviyal, mixed vegetables in a coconut gravy... this dish makes me love coconut! Also, Aviyal is one of the few South Indian dishes that isn't very spicy. They have several other curries, gassis, and kormas that sound tempting, but so far I haven't gotten around to trying any. All that food, so little time!
Finally, you can't leave Banana Leaf without trying an authentic South Indian dessert. You should try their payasam - they have two kinds, one with semolina, the other with coconut. I know they are both delicious, but I don't like anything that resembles kheer, so it's not for me. They have other sweet dishes too like gulab jamuns, halwas (please don't try gajar ka halwa here, it's a travesty), ice cream, and even brownies. Next time maybe the walnut halwa... although I'm suspicious of how South Indian that is.
The one grouse I have is that even when you ask that a dish not be very spicy, it still has the potential to blow your head off. I understand that spices are integral to south indian cuisine, but not everyone can handle that... I love mildly spicy food, but at Banana Leaf it can get to be too much. Another problem is that there aren't many drink options. It would be nice if they could include some interesting mocktails... something other than the usual chaas, lassi, soft drink, iced tea, sweet/salty lime juice, and milkshakes (they even have fresh coconut water, but it's ridiculously overpriced). Anyway, a delicious, cool drink would go a long way with spicy food. I think they also have South Indian filter coffee, but in Bombay's humidity, you'll probably be asking for ice to add to that, heeheehee.
Other than that, Banana Leaf is awesome. The food is delicious, service is excellent... the guy who takes your order will helpfully suggest dishes that might appeal to you and explain them, if you're confused. Trust me, you will be confused with all the options in each section. The wait staff is very attentive, but not obtrusive. The food will arrive at your table within 10-15 minutes of placing your order - even when the restaurant is crowded. The food is served on banana leafs (supported by steel dishes). They even serve sweet paan at the end of the meal when they bring you your cheque. My friends say it's awesome and always make a grab for mine (I've never tried paan yet because stuffed leaf doesn't appeal, I'd rather stuff a golgappa :)
Banana Leaf is located at Juhu-Versova link road and thankfully they have valet parking. The restaurant is open from 11:30 am to 12 at night, so you can drop in for a late breakfast, or lunch, or dinner, or just a snack. If you're going for lunch or dinner over a weekend, try to make a reservation or you'll have to wait for a table. A meal there, including your starters, mains, beverage, and dessert will come to about 250 per person, so it's pretty reasonable - specially considering the restaurant's excellent hygeine and ambiance. And there's a Mad Over Donuts outlet right next door, in case you're in the mood for some delicious donuts and coffee after your meal!