The Saraswati Mandir Education Society was founded in the year 1950, and the Marathi medium school was started in a community hall of Saraswat Colony at Mahim with just 12 students on roll. As the students strength started increasing, the society purchased the plot at its present location in Mahim in the year 1961 and constructed its school building in 1963. Since the academic year 1962-63 the school has been imparting Education in Marathi as well as in English medium. At present the strength of students is well over 4500. Today the school has a five storeyed building with an A.C. hall in the basement and another three storeyed building which is being used as the C.B.S.E. section. The school is well equipped with the audio visual e-learning teaching technique in the classrooms.

Saraswati Mandir High School has topped in the vicinity at the March-2016 S.S.C Board examination. KUMAR GAURAV GAJANAN PANGALE has made us proud with 94.40%. The overall percentage of our school is 98.59% , English medium pass percentage is 98.22% , Semi English medium 100% and Marathi medium 98.48%. 7 students scored above 90% , whereas 80 students have secured distinctions and 158 First class. Heartiest Congratulations to all the successful students and to the teachers who have motivated and guided them.

The 1st floor of Saraswati Mandir High school , has been renovated with the help of Financial assistance of Motilal Oswal Foundation. The renovated floor was inaugurated by Mrs.Sunita Agarwal and her Son Mr. Vaibhav Agarwal on 15th June 2015.