The institute was named after Sahu Shreyans Prasad Jain of the Sahu Jain family, who financed the institution in its early years.
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It is also linked to some famous landmarks of Andheri i.e. Andheri Recreation Club, Andheri Sports Complex – where most national level sports tournaments are held, Garden Court restaurant, Sony Mony Electronics, Sardar Patel College of Engineering (SPCE) – one of the top ranked engineering colleges, S.P. Jain Institute of Management and Research, Bhavan's College.