Parle College was the realization of a long cherished dream. Fueled by the desire to provide the suburbs with an avenue for pursuing higher education, philanthropists like Shri Baburao Paranjpe and others established the ‘Parle College’ on 20th June 1959. This institute concentrated on the complete personality development of its students apart from providing academics and extra curricular activities.

The foundation stone for the college building was laid on 4th November 1959 by Shri Ganesh Hari Pethe the president of the institution.

Prof. C. B. Joshi, a Cambridge scholar took over as the first Principal of the college. His wide contacts and his standing in academic circles soon attracted the best teaching talents in all departments. In keeping with the visions of the founding fathers, a moral guidance scheme was set up for the students. For the convenience of employed students, there were special classes in the early mornings and late evenings. To encourage academic excellence a scheme was launched inviting research papers from teachers.

Dr. Nargund, doyen of organic chemistry and erstwhile tutor of Vikram Sarabhai Institute, honoured the fledging college by spending his post retirement days here; guiding scores of M.Sc. and Ph.D. Students. Parle College was set on a sound footing by a host of scholars, litterateurs and critics, among whom were Prof. Gunjikar (Biology), Prof. Vasant Dev (Hindi), Dr. Jani (Gujarati), Prof. V. D. Kulkarni and Dr. Karhade (Marathi), Dr. (Smt.) Vaidya, Prof. R. G. Sohoni (Mathematics) and Prof. Manjrekar (English) to name just a few.

A number of schemes were introduced to help needy students, some of which were The Students Mutual Aid fund, free scholarships and the Book Bank. A co-operative store was also established with help from World University service.

Alongside academics, sports and extra curricular activities were also encouraged. The college consistently won the volleyball trophy, and produced fine sportsmen in chess and kho-kho with the likes of Pravin Thipsay who represented India in chess. The sports and physical education department had flourished due to the untiring efforts of Shri H. N. Chaube, the director of physical education.

In 1962, NCC training was initiated in the college for students and lecturers.

In 1965, after the sudden demise of Principal C. B. Joshi, Prof. P. M. Potdar took over as the Principal. Under his able guidance the college scaled new heights of glory.

Principal Potdar became a member of the executive council in 1971. The college acquired a reputation of nurturing scholars in an atmosphere congenial to studies. Permanent affiliation to the University of Mumbai was secured in the year 1972.

Junior college was attached to the degree college in 1976-77. To meet the needs of the changing times, vocational courses in banking, Office management and electronics were introduced in ‘Junior College’ between 1979 and 1981. The ever growing demand for job oriented courses led to the inclusion of the Microbiology and the Statistics department in the degree college in 1981-82. The commerce faculty was also introduced in the degree college in 1982-83.

Consequently in 1984, its 25th year, the college was well on its way to meet the challenges posed by the changing education scenario and could look back with satisfaction on its considerable achievements. The vice Chancellor Dr. M. S. Gore released the souvenir commemorating the silver jubilee celebrations.
Prof R. G. Sohoni took over the reins after Principal Potdar's retirement. His administrative acumen helped the college to carve a niche for itself among the colleges of Mumbai. To Principal Sohoni goes the credit of adding a much needed auditorium to the college.

Generous contributions from the Sathaye foundation in April 1993 led to “Parle College” being renamed “Sathaye college”. The grand ceremony held on 30th may 1993 was graced by an eminent educationist Shri Chaturbhuj Narsee.

Dr. S. V. Panse, who took charge as the Principal in 1996 continued to steer the college along the road to progress.

Sports day became a regular feature of the annual college celebrations. "The Lokmanya Tilak Vaktrutva Spardha" and "The Gopal Ganesh Agarkar essay Competition", instituted in1998, drew the finest talents from all over the state.

On Dr. Panse's appointment as director board of college and university development, Dr. (Smt.) K. S. Rege was appointed as the Principal in 2001.

To equip students for the 21st century, new subjects and courses were introduced from time to time. The Baburao Paranjpe InfoTech institute was established and the college started new course like B.Sc. (I. T.) and ‘Bachelor of Management Studies’.
Intra and Intercollegiate festivals such as “Utsav”, ”Gravity”, and “Byte IT” ensured the overall development of students by giving them a wide exposure and a platform for their talents.

Sathaye College has thus given substance to the vision of its founding fathers: "Purnata Gauravaya". Every year hundreds of young students have their portals equipped not just with degrees, but also with life enhancing skills: therein lies the measure of its success.