After the three Kolkata giants Mohun Bagan, East Bengal and Mohammedan Sporting, Peerless is considered as the strongest side from the city of joy.

[23] As defending champion, Peerless began their 2021–22 Calcutta Premier Division journey on 17 August, defeating Kidderpore FC 4–1.

In June 2022, the club roped in Soren Dutta as head coach and Iranian former footballer Jamshid Nassiri as technical director.

In September, the club fought in group stages of the Calcutta Premier Division but failed to reach the "super six" round.

[33] Peerless SC scripted history in 2020, as they became the only club outside Kolkata's "Big Three" (Mohun Bagan AC, East Bengal FC, and Mohammedan Sporting) to win the Championship in 61 years; Eastern Railway did the same back in 1958.