Latest news with #PrithviExchange
The Hindu
a day ago
- Business
- The Hindu
Forex dealer Prithvi Exchange plans expansion
With demand for foreign currencies increasing from corporates, travellers and students studying in foreign universities, Chennai-based Prithvi Exchange, which is into selling foreign currencies, issuing forex cards and facilitating remittances abroad, is planning to expand store network to serve it's customers better. 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. While the company will deepen it's presence in the South and it plans to expand into more cities in rest of India. 'In the last two years, we have doubled our store count from almost 15, we are now to 31 in the last quarter. We have similar plans of another 8-10 stores this year and probably another 5-6 stores in the next financial year also,' Mr. Kavad said. 'We are looking at expanding to cities like Vizag, Trivandrum, Bhubaneswar and Jaipur. In existing cities, where we are present, we are doubling down over there,' he said. The company is looking at at least two centres in Mumbai this year and adding multiple stores in Delhi, Bangalore, Hyderabad. 'Chennai also has scope for another 1 or 2 more stores besides the 6 we already have. Bengaluru has scope for another 2-3 outlets,' he said. The company which has IRDAI licence for insurance broking is seeing potential for growth in this business. It sells all types of insurance policies like life, non-life, general and travel. 'The scope for growth is huge. The insurance penetration in India is hardly about 6-8% people who have got insurance policy,' Mr. Kavad said.
Business Standard
08-08-2025
- Business
- Business Standard
Prithvi Exchange (India) consolidated net profit declines 74.25% in the June 2025 quarter
Sales decline 22.14% to Rs 852.90 crore Net profit of Prithvi Exchange (India) declined 74.25% to Rs 1.12 crore in the quarter ended June 2025 as against Rs 4.35 crore during the previous quarter ended June 2024. Sales declined 22.14% to Rs 852.90 crore in the quarter ended June 2025 as against Rs 1095.42 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 852.901095.42 -22 OPM % 0.170.54 - PBDT 1.716.12 -72 PBT 1.505.93 -75 NP 1.124.35 -74
Business Standard
24-05-2025
- Business
- Business Standard
Prithvi Exchange (India) reports consolidated nil net profit/loss in the March 2025 quarter
Sales decline 23.16% to Rs 718.76 crore Prithvi Exchange (India) reported no net profit/loss in the quarter ended March 2025 as against net profit of Rs 3.25 crore during the previous quarter ended March 2024. Sales declined 23.16% to Rs 718.76 crore in the quarter ended March 2025 as against Rs 935.39 crore during the previous quarter ended March 2024. For the full year,net profit declined 38.54% to Rs 8.02 crore in the year ended March 2025 as against Rs 13.05 crore during the previous year ended March 2024. Sales declined 15.34% to Rs 3514.88 crore in the year ended March 2025 as against Rs 4151.98 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 718.76935.39 -23 3514.884151.98 -15 OPM % 00.54 - 0.300.44 - PBDT 0.395.29 -93 11.6418.86 -38 PBT 0.205.11 -96 10.8718.19 -40 NP 03.25 -100 8.0213.05 -39
News18
20-05-2025
- Business
- News18
Germany Opens Its Doors Wider: New Visa Reforms Offer Relief and Hope for Indian Travellers
Last Updated: Germany's new visa reforms promise faster processing, fewer rejections, and a more transparent experience for Indian travellers. In a much-anticipated move that's set to reshape international travel for Indian citizens, Germany has announced sweeping visa reforms that promise greater transparency, efficiency, and accessibility. Coming into effect from July 1, 2025, these changes are expected to significantly ease the application process for Indian tourists, students, and skilled professionals—many of whom have long grappled with bureaucratic delays and unclear rejection procedures. Perhaps the most impactful of the reforms is the elimination of the visa remonstration process, a previously opaque and time-consuming appeal mechanism. Applicants who faced rejection often found themselves in a frustrating loop, with little clarity on the reasons for denial and limited recourse beyond a lengthy appeal that could stretch on for months. According to Pavan Kavad, Managing Director, Prithvi Exchange (India) Limited, 'Germany's upcoming visa reforms mark a significant and positive shift for Indian travellers and professionals. By scrapping the visa remonstration process, Germany is removing a lengthy and often unclear appeals system. Applicants will now have a clearer option to either reapply or seek formal legal recourse, introducing greater transparency and predictability." To further streamline the application journey, Germany will also be cutting visa appointment wait times from nearly nine months to just a few days—a transformative move for those with urgent travel or academic commitments. The change is expected to benefit thousands of Indian applicants annually, including students racing against academic timelines and job seekers eyeing global opportunities. A Personal Perspective: 'I Almost Lost ₹30,000" For many, these changes aren't just policy—they're personal. Indian travellers have long felt the sting of Europe's rigid and unpredictable visa systems. Travel blogger Jeevan Kadam shares his own harrowing experience, 'Last year, when I applied for a Schengen visa, it was nothing short of a nightmare. I nearly lost ₹30,000 in the whole process," he recalls. 'It was incredibly frustrating and time-consuming, and the worst part was not clearly knowing why the application was denied. Like many Indians, I felt helpless." His experience echoes a broader trend. According to a recent Business Standard report, Indians lost a staggering ₹662 crore in non-refundable visa fees in 2024 alone, primarily due to Schengen visa rejections. These denials not only cost applicants financially but also result in missed academic admissions, business meetings, family reunions, and holiday plans. 'But now," Jeevan adds with optimism, 'things are changing. Germany will eliminate the remonstration procedure, and instead of an unclear internal review, applicants will now have to either reapply or go through judicial appeal—which feels fairer. They've even launched a digital Consular Services Portal so applications can be submitted online. This just feels like a more reliable and traveler-friendly option." Germany: A Gateway to Europe These reforms are expected to position Germany as a gateway country for Indian travellers to Europe, especially for those planning to visit multiple Schengen countries. With the promise of efficiency, fairness, and accessibility, Germany is rapidly becoming a preferred starting point for European travel. 'Germany is emerging as one of Europe's most accessible and promising destinations for Indians," Kavad affirms. 'These visa reforms are not just administrative updates—they're a reflection of the country's recognition of India's growing global mobility and contribution." As the countdown to July 2025 begins, one thing is clear: Germany's new visa policy has the potential to redefine the Indian travel and mobility experience, creating a more open and equitable system that finally meets the needs of the modern global citizen.
