Mr. P G Bhagwat was born into a family of small-scale landowners and farmers from Dhawadshi, a small village in the Satara District, Maharashtra, with a population of 1000. Despite his humble background, he was determined to study finance, leading him to move to Mumbai, where he completed a Diploma in Accountancy in the pre-independence era.

With enthusiasm, hard work, and dedication, he built many successful relationships, all of which contributed to helping him establish a successful Chartered Accountancy practice in 1938, with ICAI membership number 131. Soon he earned a reputation for being a principled, objective, and ethically sound professional.

The proprietorship became a Partnership Firm in 1955, and Mr. P G Bhagwat acquired several corporate clients along the way. He mentored the next generation at the Firm, leaving a legacy through his education trust for aspiring Chartered Accountants.

He generously aided the underprivileged and his alma mater, the Institute of Chartered Accountants of India. He lived a meaningful life, making consistent efforts and contributions until his death on July 21, 1989.

Following his father's footsteps, the late Mr Abhay Bhagwat took over the Firm in 1974, leading it to great success for 42 years. He expanded the firm from two partners to eleven and trained over 500 articles. His values and ethics remain a fundamental part of the firm, inspiring and guiding professionals over the years.

In 2020, the firm was converted into a Limited Liability Partnership. Under progressive and dynamic leadership, the LLP seamlessly integrates modern technology and methodologies while staying true to its 85-year legacy. With a team of 16 partners and over 250 team members, the firm prioritises quality, providing its clients with progressive and diligent financial services that align with its core values of honesty, objectivity, integrity, independence, and empathy.