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).

Pillais Institute of Management Studies & Research (PIMSR) was established in 1998. It is affiliated to the University of Mumbai and recognised by the AICTE and the Government of Maharashtra. The Directorate of Technical Education, Government of Maharashtra, has awarded the institute an A grade.