Motilal Oswal Foundation Disburses Rs 100 Cr to RVG Educational Foundation for the 2nd "Agrawal Oswal Chhatrawas” in Mumbai
Legacy meets vision to empower the next generation of Chartered Accountants
Mumbai, July 11, 2025: Motilal Oswal Foundation, the philanthropic arm of Motilal Oswal Financial Services Ltd., has disbursed ?100 crore to RVG Educational Foundation for the 2nd “Agrawal Oswal Chhatrawas,” a landmark residential and educational hostel campus for out station Chartered Accountant (CA) aspirants in Mumbai. This is in addition to the 1st “Agrawal Oswal Chhatrawa” in Andheri West built over a decade ago.
Located in Marol, Andheri East, Mumbai, this campus will comprise two17-storey towers spread across 4,00,000 sq.ft. with state-of-the-art amenities including a library, mess, fitness zones, wellness spaces, and more, setting anew benchmark in student living and learning. Once constructed, the “2ndAgrawal Oswal Chhatrawas” could potentially become India’s largest residential CA hostel and provide a home away from home to over 2,000+deserving CA aspirants.
This philanthropic support aligns with the Motilal Oswal Foundation’s commitment to institution building. It elevates India’s CA education infrastructure with scale, safety, and quality while addressing the acute housing shortage in Mumbai for outstation CA students during their Articleship.
This collaboration holds deep personal meaning for both Mr. Motilal Oswal and Mr. Raamdeo Agrawal, who began their professional journey sat an RVG hostel in Mumbai during the early 1980s. This initiative is their way of giving back to the very place that gave them their start.
Mr. Motilal Oswal, Chairman, MO Foundation, said, “This partnership is deeply personal for both Raamdeo and me. Both of us came to Mumbai from very rural parts of India, and we know how a supportive, secure environment shapes young professionals. Through this initiative, we want to give thousands of aspiring CAs the same foundation we were fortunate to receive.”
Mr. Raamdeo Agrawal, Co-founder, MOFSL, added, “When I walked into RVG as a young CA student, I had big dreams but limited means. That place gave me more than a roof; it gave me purpose. Supporting this project is our way of ensuring no deserving student is held back due to a lack of opportunity.”
Sunil Goyal, Trustee and President of the RVG Educational Foundation said, “We are honoured to deepen our partnership with the Motilal Oswal Foundation. They have been our partners since 2008. This is the largest single grant RVG has ever received. This initiative represents vision, values, and a deep commitment to student success. By creating an environment where young minds feel supported, we enable them to focus fully on their goals. The outcomes are encouraging; RVG students consistently perform exponentially above the national average, and this year’s CA Gold Medallist emerged from our campus. With this new facility, we look forward to shaping many more such success stories.”
About RVG Educational Foundation
Established in 1957 in Mumbai, RVG Educational Foundation has been a pioneer in providing holistic residential and academic support to outstation CA students. With four operational hostels across Mumbai, RVG currently supports approximately 1,200 students and has empowered over13,000 alumni, including several All-India Rankers and the most recent CA Gold-Medalist.
About Motilal Oswal Foundation:
The culture of giving back to society is deeply embedded in Motilal Oswal Group since its inception. From education to supporting social causes, the company has consistently sought to give back to society. Motilal Oswal Group’s founders decided to go a step further to formalise these social initiatives, and Motilal Oswal Foundation was formed in 2011. In 2023, both the founders of the group pledged 10% equity stake (~ ?4500cr) of their personal holdings in the group company for philanthropy.
The Motilal Oswal Foundation has focused on supporting philanthropic initiatives in education, healthcare, and community development. From funding educational infrastructure at top colleges and universities to supporting tribal schools, the Foundation remains committed to fostering meaningful societal change.
https://www.motilaloswal.com/foundation/index.html
For media queries, Contact
Rohini Kute
Head of group Corporate Communication,
Motilal Oswal Financial Services ltd
rohini.kute@motilaloswal.com