Pavan Kumar Kavad | Photograph Credit score: Particular Preparations
With rising demand for international foreign money from firms, vacationers and college students learning at international universities, Chennai-based Prithvi Change goals to advertise international foreign money gross sales, international change playing cards and abroad remittances, and plans to broaden its retailer community to serve its prospects.
The corporate has determined to open one other 15 shops over two years, opening its community complete in additional than 45 shops, managing director Pavan Kumar Kavad stated in an interview.
Whereas the corporate exists within the South, it plans to broaden to extra cities in different components of India.
“Within the final two years, we have virtually doubled the variety of shops from 15. It is now 31 within the final quarter. This yr we have now the same plan to 8-10 shops, and maybe 5 – 6 shops within the subsequent fiscal yr,” Kavad stated.
“We’re contemplating increasing to cities corresponding to Vizag, Trivandrum, Bhubaneswar and Jaipur.
This yr, the corporate is contemplating a minimum of two centres in Mumbai and including a number of shops in Delhi, in Bengaluru, Hyderabad.
“There’s one other vary of shops in Chennai, apart from the six we have already got. There are two or three different shops in Bengaluru,” he stated.
The corporate with IRDAI insurance coverage dealer licenses is seeing the expansion potential of this enterprise. We promote all types of insurance coverage contracts: life, non-life, basic, journey and extra.
“The expansion vary is big. Insurance coverage penetration in India isn’t about 6-8% of individuals with insurance coverage contracts,” Kavad stated.
