The tragedy occurred on Friday in the town of Paung, in Mon state, Efe news reported citing officials.
The landslide was caused by heavy rains that have plagued the region for days and forced around 38,000 people throughout the country to leave their homes, according to UN figures.
On Saturday, the Fire Department updated the number of victims in a statement and warned that the figure could increase during the ongoing search and rescue operation.
One of the survivors, a 70-year-old woman, told Efe on the phone that she lost 13 family members to the natural disaster, which she described as "unprecedented during her life".
"This is the very first time, I've never seen anything like this before in my life," she said.
Another survivor Ko Chan Aye lost 14 members of his family. He was saved because he was out shopping in another area when the landslide hit.
"I think there could have been more than a hundred people buried. I have no hope that many will remain alive," he said.
Hundreds of residents of nearby villages were left isolated and awaiting aid as heaps of mud blocked roads and paths.
Dozens of excavators and heavy machinery were deployed in attempts to find any survivors alive in the quagmire.
( With inputs from IANS )