HE is one of his kind in Mumbai today. Raja Picturewala, 38 years old, recycles celluloid waste in his 100 square feet tenement in a northern Mumbai suburb, and uses it to run his cottage-industry Baby Show--clips, reels and sometimes complete runs of Hindi feature films--for an enthusiastic audience that gathers regularly in the tiny windowless room where a 20-year-old projector on a mezzanine beams fanciful images on a whitewashed screen.