Please rephrase your question. You asked whether any actress or item girl can match the stature of Helen.
Today there are few item girls or item actresses who have been consistently in that role for long.
Helen was in item and dance domain for decades even after her youthful days. But today very few item girls are doing the item role consistently or get fame or reputation. Exception is Rakhi Sawant.........but she has been item girl only for short while. And there are dancing heroines such as Reena Roy who may be compared but after here there were hardly any well known or identifiable item girl - may be a few.
There are some ladies like Maliaka arora, amrita arora, bipasha, etc who have donned such roles.....but they cannot be classified as item girls. So Helen is a legend and will be so .....because even if an item girl emerges and remains so for long......the heavy competition will make her less noticable.
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We had Bindu, Laxmi Chhaya, Padma, etc., in the past during Helen. Since this industry is not coming to an end, there could be likes sooner or latter and let us sit with fingers crosssed, sustaining the hope!!!!!!!