Protein productivity by the cellulolytic fungi, Trichoderma viride(MTCC 800), Chaetomium globosum and Aspergillus terreus was compared in co-culture and mixed culture fermentations of cashewnut bran. Co-cultures were more effective in substrate saccharification, which ranged between $85{sim}88%$ compared to the $62{sim}67%$ saccharification shown by the monocultures. Maximum saccharification was induced by T. viride and C. globosum co-culture resulting in the highest 34% release of reducing sugars. The maximum 16.4% biomass protein and the highest protein productivity(0.58%) were shown by T. viride and A. terreus co-culture. A. terreus performed better in co-culture in the presence of T. viride rather than with C. globosum. Among the cellulolytic enzymes, FPase(Filter Paper Cellulase) activity was significantly higher in all the co-cultures and in the mixed culture than in their respective monocultures. Mixed culture fermentation involving all the three fungi was not effective in increasing the per cent saccharification or the biomass protein content over the co-cultures.