Prithvi Exchange (India) Limited , a prominent player in the forex services sector, has announced the opening of a new branch in Bhubaneswar, Odisha, marking a significant step in its expansion strategy.

Strategic Location and Enhanced Services

The new branch is strategically located at Plot No. S.C.R-65, Janpath unit-3, Kharvel Nagar, Bhubaneswar, G.P.O Khorda, Odisha – 751 001. This expansion is part of Prithvi Exchange's commitment to enhancing its presence across India and providing accessible forex services to a wider customer base.

Technological Advancements for Improved Customer Experience

In line with its commitment to customer service excellence, Prithvi Exchange has equipped the new Bhubaneswar branch with contemporary facilities and the latest technology. This modern setup aims to provide an enhanced and efficient experience for customers seeking forex services.

National Expansion Plans

Pavan Kumar Kavad, Managing Director of Prithvi Exchange (India) Limited, stated in the company's official communication to the BSE, "By building more branches in the near future, the firm hopes to increase its footprint across the nation." This statement underscores the company's ambitious growth plans and its intent to strengthen its position in the forex services market across India.

Regulatory Compliance

The opening of the new branch was reported to the BSE Limited in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This adherence to regulatory requirements demonstrates Prithvi Exchange's commitment to transparency and corporate governance.

Looking Ahead

As Prithvi Exchange continues its expansion, the forex services landscape in India may see increased competition and improved accessibility for customers. The company's focus on technological advancements and strategic location choices could potentially set a new standard in the industry.

Investors and customers alike will be watching closely as Prithvi Exchange unfolds its national expansion strategy, potentially reshaping the forex services market in various regions across India.

Prithvi Exchange (India) Limited , a leading player in the foreign exchange services sector, has reported a mixed financial performance for the first quarter of FY 2025-2026, while also announcing significant corporate changes.

Financial Performance

The company's Q1 results reveal:

Prithvi Exchange witnessed an 18.66% quarter-on-quarter increase in total revenue, rising from ₹71,876.23 lakhs in Q4 FY 2024-25 to ₹85,289.78 lakhs in Q1 FY 2025-26. However, compared to the same quarter last year (Q1 FY 2024-25), when revenue stood at ₹109,808.39 lakhs, there was a notable decline.

The company's net profit for Q1 FY 2025-26 reached ₹113.46 lakhs, a significant improvement from the ₹9.49 lakhs reported in the previous quarter. Despite this growth, it's important to note that the profit figure is lower than the ₹435.46 lakhs recorded in Q1 of the previous fiscal year.

Operational Highlights

Prithvi Exchange has secured a notable achievement by gaining empanelment with State Bank of India for forex services across their branches. This development is expected to expand the company's service reach and potentially boost future revenues.

Challenges and Market Conditions

Managing Director Pavan Kumar Kavad highlighted several challenges that impacted the company's performance during the quarter:

1. Global tensions, including conflicts between India-Pakistan and Israel-Iran, led to reduced footfall at branches and lower demand for personal travel forex products.
2. A reduction in the Hajj quota for pilgrims affected religious travel-related forex transactions.
3. Delayed visa approvals for students impacted the education-related forex business.
4. General economic concerns contributed to a slowdown in the forex market.

Despite these challenges, the company remains optimistic about returning to growth in upcoming quarters as conditions improve.

Corporate Developments

The Board of Directors, in their meeting held on August 8, 2025, approved several key decisions:

1. Reappointment of Mr. Pavan Kumar Kavad as Managing Director for a five-year term from September 29, 2025, to September 28, 2030, subject to shareholder approval.
2. Appointment of Ms. Rashmi Surana as an Additional Director in the Independent category for a five-year term, effective August 8, 2025.
3. Acceptance of the resignation of Ms. Nithyasree P G as Company Secretary and Compliance Officer, effective September 13, 2025.
4. Approval of the Prithvi Exchange Employee Stock Option Scheme – 2025, with an option pool of 4,34,200 shares.

Future Outlook

While acknowledging the current challenges, Prithvi Exchange is actively pursuing new business opportunities allowed by the RBI, such as crew wages and visa fees. The company, which currently has a presence in 25 key cities across India, is also planning to expand its network to other cities and foreign countries.

The 30th Annual General Meeting of the company is scheduled for September 9, 2025, where shareholders will vote on these corporate changes and other matters.

As Prithvi Exchange navigates through global economic uncertainties, its strategic expansions and corporate restructuring efforts aim to position the company for future growth in the dynamic forex market.