The present invention relates to the development of the cationic progesterone compounds as a novel anti-tumor agent. The present invention provides a method for the preparation of novel series of progesterone derivatives. The invention also provides information related to highly selective anti-cancer activities of these compounds in wide range of cancer cell irrespective of their progesterone receptor status. Thus, the presently disclosed cationic progesterone compounds offer a viable option as anti-cancer therapeutics.