Nawab Mumtaz yarud Dowla was born on 9th February 1862 in a respectful family who were associated with the fifth Asaf jah Nawab Afzal-ud- Dowla. His original name was Mahboob Ali.

  Which was subsequently changed to Mumtaz Ali. Nawab Sahab right from his childhood showed the  brilliance in early education and consequently he held the honour of being a companion-in-studies to
 Nawab  Meer Mahboob Ali Khan Asaf jah VI. He joined the Nizams Military and by dint of his exemplary  work he was  elevated to the rank of major commanding the sarfe-khas Battalion. His Visit to turkey in the  early part of  services aggravated his long Cherished desire of imparting education to the children of military  personnel of  Nizams army. Thus His Plans and aims Crystallized in the form of School with no money, building  and land, but  Nawab sahab Exemplified the Famous Quotation in letter and spirit where there is a will there is  a way. In order  to have smooth running of school he established a fund where in every personnel of army  Irrespective of the  rank has to Donate a Pie in every Rupee of their Monthly Salary.
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 Nawab Mumtaz yarud Dowla was a great Philanthropist, he donated half of his private property to wakf  created for the maintenance of institution. During his life time he started Asafia HIgh School in the year 1896  which is the oldest institution that has Produced the cream of society. He has lofty ideals of making the  Institution into a University. By virtue of his desire he was given the title of Sir Syed of south. His wish was  fulfilled in the form of the Establishment of Mumtaz College in the year 1957, by the Trustees of Mumtaz - Yar-ud-Dowla wakf. The very Existence of his tomb within the Campus is Indicative of his Attachment and  inherent love for Education (May his soul rest in peace).
The further Development of his institution would be the tribute to the founder. The day is not far off the  when Mumtaz college will occupy the pedestal of higher learning in twin cities.