Prithvi Exchange (India) Ltd. – Company Report
1. Company Overview
Prithvi Exchange (India) Ltd., founded in 1995 and headquartered in Chennai, is a prominent RBI-licensed Authorized Dealer Category II, offering comprehensive foreign exchange and money transfer services. With nearly three decades of industry experience, the company operates a widespread branch network across major Indian cities, serving individual travelers, students, corporates, and NRIs. Known for its transparent, tech-driven operations, Prithvi Exchange is publicly listed and has received numerous accolades for service excellence.
Incorporated: 1995
Headquarters: Chennai, Tamil Nadu, India
Employees: 200–500
License: RBI-Authorized Dealer Category II
Branch Network: Over 10 major cities across India
Listed: BSE (Ticker: 531688)
Certifications/Awards: Multiple service awards, including “Best Forex Service Provider”
Core Focus: Foreign exchange, travel cards, wire transfers, remittances, and regulatory compliance
Executive Leadership:
- Managing Director: Dr. Ashok Kavad
- Chairman: Deendayalan K. Narayanaswamy
Market Cap (Aug 2025): ₹120–135 crore
2. Products and Services
Prithvi Exchange provides a full suite of regulated forex and money transfer offerings:
- Currency Exchange: For leisure and business travelers, students, and emigrants
- Prepaid Forex Travel Cards: Multi-currency cards for convenient global payments
- Traveler’s Cheques: For international travel needs (limited usage but available)
- Wire Transfers: Fast outward and inward remittances for education, healthcare, business, etc.
- Foreign Currency Demand Drafts: For tuition, migration, business, or personal gifting
- Corporate Forex Services: Tailored forex and compliance support for corporates and exporters
- Allied Services: NRI/PIO support, collaborations with banks, travel agents, and fintech partners
These offerings are supported by strong regulatory compliance, real-time transaction transparency, and technology-led customer service.
3. Recent News and Financial Performance
Business Developments:
Education Remittance Expansion (June 2025):
Prithvi is targeting new education remittance markets including Germany, Austria, New Zealand, France, Dubai, and Singapore. These markets are growing rapidly due to a 68% rise in Indian student intake in Germany and a 354% surge in New Zealand between 2022–2024. The Indian education remittance market is valued at $3.5 billion. Company handled $150 million+ in remittances in FY2025, with education dominating the volume
Domestic Growth Strategy:
- 15 new branches added over the last 2 years
- Recent openings: Noida, Nagpur, Amritsar, Salt Lake, Indore
- Targeting 6–8 additional branches in Tier-2 cities
New Verticals Launched:
- Insurance Broking (planned launch)
- Family Maintenance Remittances to serve the growing diaspora segment
Forex dealer Prithvi Exchange plans expansion (August 2025):
- The company has decided to open 15 more stores in two years to take it’s total network to more than 45 outlets, managing director Pavan Kumar Kavad said in an interview.
4. Financial Performance (FY2025)
| Metric | FY2025 | FY2024 |
|---|---|---|
| Revenue | ₹3,525 crore | ₹4,161 crore |
| Net Profit | ₹8.11 crore | ₹13.05 crore |
| EPS | ₹9.83 | ₹15.82 |
| Dividend Payout % | 10% | 3% |
| Debt | Near zero | – |