The college was established by the Kelkar Education Trust in 1984 in memory of its founder trustee, late Shri.

A Kelkar Education Trust was set up by Bhausaheb in Mulund in 1979 to start a college.

[2] Kelkar College is the first affiliated Arts, Science and Commerce institution in the state of Maharashtra which was assessed for accreditation by National Assessment and Accreditation Council (NAAC), which the institution of UGC had started.

College received five star status in 1998, reassessed in 2005 and assessed for third cycle in 2012 (Third time) with an "A" grade from NAAC.

Nevertheless, the offline comeback of the festival was grand with the highest recorded footfall of 20,000+ with support of big brands as sponsors like Sugar Cosmetics, Sony Marathi, SBI and much more.