Malavika was born in Tamil family to N. Ganesan, a retired banker and writer, and Savithri, a vocalist and dancer. She was initiated into classical arts very early under the tutelage of Padmashree Leela Samson in Bharatanatyam and Pandit Partho Das on the Sitar. G.V. Iyer spotted her at a dance performance as Krishna and cast her as Krishna in his Krishnavataar. She then played a lead role as a princess in Prema Karanth's Panorama children's film Nakkalaa Raajakumaari. She is known for her work in Kannada and Tamil films. She hosted Baduku Jataka Bandi, a television show that aired on Zee Kannada.