The Modern College of Pharmacy is a part of one of the most prestigious educational institution of Pune - The Progressive Education Society (PES). The history of PES goes long back into the pre independence era, when education had overtones of Patriotism and Social Obligation. The PES was established in 1934 by Prof. Shankarraoji Kanitkar and his devoted colleagues. From the beginning the guidelines were pretty clear: Progressive and Modern. The beginning was The Modern High School at Shivajinagar, which has till date produced stalwarts like Shri. Arun Firodia, Shri. Arvind Inamdar, Dr. V. N. Gupchup, Barrister Vitthalrao Gadgil, Dr. G. R. Ekbote, to name a few.

The progress continues and till date there are 40 schools and colleges and almost all aspects of education are touched. The education provided includes Primary, Secondary School education through to Post Graduation Courses in Management, Science, Arts and Commerce. There are institutions providing Technical Education like Pharmacy, Engineering and Computers. There is a vocational guidance institute as well, which conducts short duration vocational courses and also provides guidance in competitive examinations