Over the decade, the team had many variations of its name, but it always had the word "Perlas" (Pearl) in it except during the 2012–2013 season, when it was called "Vilnius-MRU".

Undoubtedly, Perlas’ best-known alumni is Lietuvos Rytas Vilnius, Memphis Grizzlies and Lithuania men's national basketball team center Jonas Valančiūnas.

"Perlas-MRU" qualified for the second-tier Lithuanian basketball league (NKL) playoffs for the first time in the 2006–2007 season.

In the regular season, Vilnius team was ranked 12th (14/20), but in the Round of 16 it eliminated fifth-ranked Sūduva-Mantinga (2–1).

In the round of 16, Mindaugas Sakalauskas players crushed Klaipedos Nafta-Universitetas (3–0), but in quarterfinals, they were forced to concede to Delikatesas Joniškis (3–2).