- Ashrafi Mahal (Palace of the Gold Coin) was built facing the Jami Masjid at Mandu, its approach of a noble flight of stairs aligning with and mirroring that of the mosque.
- Dating from the early years of the reign of Mahmud I, the first of the Khalji dynasty of Mandu, which took over from the Ghuri dynasty.
- The structure is composed of three distinct buildings, built at different times.
- Upon completion, Ashrafi Mahal covered a square of 320' side.
- The first structure built on the site was a madrassa in the form of a series of rooms surrounding a courtyard, with four towers, one at each corner of the structure.
- The rooms with a corridor of double arches, which have pyramidal vaulted ceilings of interesting design can still be seen on the ground floor of the subsequent structure.
- The madrassa courtyard was subsequently filled in to create a terrace 27' high on which the royal mausoleum could be built.
- The terrace was approached by a grand flight of steps projecting from the front on top of which a pillared portico was placed with loggias on both sides.
- Only a few portions of the mausoleum itself still remain, though it can be ascertained that it was a square hall of 65' side covered by an immense dome. Each wall was faced with white marble. The doorways and windows were decorated with carvings. In certain places, patterns in choice stones were inlaid with friezes of blue and yellow glaze.
- The last structure comprising the Ashrafi Mahal was a Tower of Victory raised by Mahmud I in 1443 to commemorate his victory over the Rana of Chitor. It replaced the turret on the north-east corner of the original madrassa building.
- The tower was in red sandstone, rising through 7 stages to a height of 150'.
- Balconies projected over a marble string course demarcating each storey.
- Four openings with eaves supported by carved pillars gave access to each of the balconies while patterns of inlaid marble in a variety of colours were carried at intervals around its curved surface.
- Most of the tower, except the basement has collapsed, the builders having relied on surface treatment for effect rather than architectural construction. The whole structure was apparently built hurriedly and carelessly, its walls composed of roughly prepared rubble.