Malineni Lakshmaiah M.B.A. College, Prakasam is managed and run by Malineni Perumallu Educational Society. The institute came into being in 2000. Malineni Lakshmaiah MBA College is approved by the All India Council for Technical Education (AICTE), Government of India, New Delhi. Malineni Lakshmaiah MBA College Prakasam is affiliated to Acharya Nagarjuna University, Nagarjuna Nagar for its postgraduate course in management field, that is, Master of Business Administration (MBA). It is two-year full time program. Malineni Lakshmaiah M.B.A. College has modern facilities for its students. The main goal of this Malineni Perumallu Educational Society is to develop the institute as Deemed University of Excellence in Technical Education. Of late, he was honoured with Health care International Excellence Award for education in the year 2005 at Hyderabad by the Honorable Revenue Minister Sri Dharmana Prasada Rao.