Mangaluru’s Sri Laxmanananda Co-operative Society is set for an eventful Sunday as it unveils new facilities at its Morgans Gate HQ.
Society’s founder president and former Minister, Krishna J. Palemar, informed that the newly constructed building will serve as both the administrative and branch offices of the society.

The ceremony will see prominent figures attending, including Dakshina Kannada MP Nalin Kumar Kateel, Mangaluru City South MLA D. Vedavyasa Kamath, Mayor Jayananda Anchan, Nitte (Deemed to be University) Pro-Chancellor Shantharam Shetty, SCDCC Bank president M.N. Rajendra Kumar, former MLA J.R. Lobo.

With its founding in 1997, the society has seen remarkable growth, with ₹2.8 crore in capital, 5,500 shareholders, and over ₹400 crores in annual business turnover. Their mission includes supporting economically disadvantaged individuals through loans and community initiatives.

The society goes beyond its financial success by actively supporting economically disadvantaged individuals and providing loans to street vendors, pushcart vendors, autorickshaw drivers, micro-entrepreneurs, and more, empowering them toward self-sufficiency. Additionally, it maintains a strong commitment to social responsibility with branches iHampanakatte, Kavoor, Katipalla-Kaikamba, and Ullal, where it organizes free eye screening camps, blood donation drives, and offers financial assistance to members’ wards.