On the basis of results of present investigation, it may be concluded that intercropping of pigeonpea with greengram gave higher productivity and net profit than sole pigeonpea and sole greengram. The response to phosphorus was marked upto 40 and 80 kg P2O5 / ha. The economic optimum dose was recorded to be 46.54 and 67.02 kg P2O5/ha for sole pigeonpea 39.71 and 40.25 kg P2O5/ha for sole greengram and 44.14 and 51.96 kg P2O5/ha for pigeonpea + greengram intercropping system, in 2005 and 2006 respectively. Seed inoculation with biofertilizers resulted in marked yield increase and thus higher net return over un-inoculation.