Welingkar Institute of Management Development and Research was established in the year 1977, with a focus of giving a new dimension to business studies. It is a part of Shikshana Prasaraka Manadali, which has 40 prominent institutions and at any time has over 7000 enrolled students across the country. Some of the other well-known institutes run by S.P.Mandali, are the Ruia College of Arts and Science (Mumbai), Podar College of Commerce (Mumbai) and S.P. College (Pune).

The University of Mumbai (known earlier as University of Bombay) is one of the oldest and premier Universities in India. It was established in 1857 consequent upon "Woods Education Dispatch", and it is one amongst the first three Universities in India.