Shastry Foundation is established in the year 2016. Shastry Institute of Pharmacy conducted by this Trust is a unique center of excellence at all levels of Pharmaceutical Education under the able leadership of Founder President, Prof. (Dr.) Vijay M. Shastry. The basic reason of starting Pharmacy education in rural area is to impart education to the underprivileged and economically poor students of Maharashtra.

The college is located 2 km away from Erandol just besides AH 46. The college has started offering Diploma in pharmacy (Intake - 60) from the year 2018 and later on from the year 2019 trust is imparting Bachelor in Pharmacy course (Intake - 100). The college possesses well-constructed infrastructure with experienced as well as young and dynamic faculty members. College campus is equipped with a wide range of facilities like central instrument lab, central digital library, computer lab along with language lab, huge Seminar Hall as well as Cafeteria as per Pharmacy Council of Pharmacy (PCI) and All India Council of Technical Education (AICTE), New Delhi norms.

The D. Pharmacy course is affiliated to Maharashtra State Board of Technical Education, Mumbai, MS while B. Pharmacy course is affiliated to Dr. Babasaheb Ambedkar Technological University, Lonere Dist. Raigadh. Both the courses are recognized and approved by All India Council of Technical Education (AICTE) New Delhi, Pharmacy Council of India (PCI) and Director of Technical Education, Mumbai, MS.