KLR College of Business Management, Paloncha was established in 1988.

It is approved by All India Counsel for Technical Education (AICTE) and affiliated to Kakatiya University, Warangal.

The university is sponsored by Boon Education Environment and Rural Development Society and was found by Dr. K. Lakshma Reddy who was running prestigious and renowned KLR Institutions for more than three decades.

The college was set up with the objective of contributing its best to the growth of professionals in the field of management and Information Technology with a motto of strive and serve, striving to achieve excellence in the related disciplines and serving the society.

The objective of the institute is to impart academic and technical education to student community.