With demand for foreign currency echange growing from corporates, travellers and college students learning in international universities, Chennai-based Prithvi Exchange, which is into promoting foreign currency echange, issuing foreign exchange playing cards and facilitating remittances overseas, is planning to broaden retailer community to serve it’s prospects higher.
The firm has determined to open 15 extra shops in two years to take it’s whole community to greater than 45 shops, managing director Pavan Kumar Kavad stated in an interview.
While the corporate will deepen it’s presence within the South and it plans to broaden into extra cities in remainder 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 stated.
“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 stated.
The firm is at the least two centres in Mumbai this yr and including a number of shops 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 stated.
The firm which has IRDAI licence for insurance coverage broking is seeing potential for progress on this enterprise. It sells all kinds of insurance coverage insurance policies like life, non-life, basic and journey.
“The scope for growth is huge. The insurance penetration in India is hardly about 6-8% people who have got insurance policy,” Mr. Kavad stated.