In the 7th century, Saraswats from North and South Kannada reached the city of Mumbai for business purposes. As the community grew, there was a need for a central place to unite. The foundation stone of the Wadala Shaka Math was laid on December 22, 1950, by P.P. Shreemad Dwarakanatha Teerth Shreepad Vader Swamiji. The inauguration of Dwarakanath Bhavan took place on February 2, 1955, in the presence of P.P. Shreemad Sudhindra Teerth Swamiji of Shree Samsthan Kashi Math. The Deva Pratishtha of Shree Ram, Sita, and Laxman was performed on February 7, 1965. Known as the 'Ayodhya of the South' due to its grand Brahad Rathotsava, the Math also hosts one of Mumbai's most famous Ganapati festival. The foresight of P.P. Shreemad Dwarakanatha Teerth Shreepad Vader Swamiji has made this Math a prestigious symbol of the community in Mumbai.