The Institute of Management Development and Research (IMDR) was founded by Dr R. T. Doshi and Shri Sumatilal Shah in 1974, as a constituent unit of the Deccan Education Society.

In 1973, Wrangler Mahajani in his capacity as the Vice Chancellor, suggested to the D. E. Society that a new institution be formed to impart management education under its purview.

Through financial contributions by Dr Doshi and Shri Shah, as well as their friends and associates, the main building of IMDR was constructed on the historic Fergusson campus.

Mahajani made the suggestion to set up an institute outside the university, with the idea that the professional and inter-disciplinary nature of management education required a different ambience.

The IMDR campus includes various classrooms, tutorial room, library, a computer center, and an auditorium with the seating capacity of 175.

[5] All candidates to the PGDM of IMDR are required to take the CAT (Common Admission Test) of the Indian Institutes of Management (IIM).

The library has a total collection of 17,058 books and reference sources, 763 CDs, 231 DVDs, 1,250 seminar reports/ working papers, and 364 audio-visual cassettes.

The Institute of Management Development and Research offers dual specialization for the PGDM course.