More than 45 Years In Actuarial Services
1958
Incorporation
Thanawala Consultancy Services was founded in the year 1958 by Mr. Naresh Thanawala and Mr. Rusi K. Daruwalla. The firm started off as a part-time venture for both our founders due to alternate career commitments. Back in the day, gratuity valuations were carried out using a pen and paper and applying first principle calculations for each individual employee.
1977
Full-time Roles
The firm finally took off as a full-time actuarial consultancy in 1977 when Mr. Thanawala and Mr. Daruwalla dedicated themselves whole-heartedly to the growth of the organization. A reputation had been built between 1958 and 1977 which acted as a strong foundation to reach new heights. Mr. Thanawala and Mr. Daruwalla helped the firm develop in size and stature over the upcoming years.
1996
Acceleration in growth
A significant acceleration in growth was experienced when Mr. Arpan Thanawala joined the firm in the year 1996, which was also the time when the industry was stepping into the digital era. More sophisticated IT infrastructure led to the advent of sophisticated actuarial models and techniques which helped cut down processing times. The increased efficiency enabled the firm to build its clientele while also ensuring that accuracy and quality of work were maintained.
1999
International Accounting
With the expertise present in the firm and the technical background on actuarial valuations, the firm started carrying out valuations under the International Accounting Standards (IAS 19) and US GAAP. This helped the firm associate with various Indian blue chip companies who were being listed on international stock exchanges and who the firm continues to assist till date.
2006
Expansion to other employee benefits
With changes in legislation, alignment of Indian accounting standards with international accounting standards and more actuarial involvement in quantification of liabilities, the firm branched out into various other employee benefit plans such as Pension schemes, post-retirement medical schemes, long-service awards amongst others.
2013
Geographical Expansion
The firm started carrying out valuations for companies and subsidiaries of Indian companies based outside India. Since then, the firm has taken on valuation assignments for entities in Sri Lanka, Philippines, Nepal, the Middle-East and many more.
2018
ESOP Valuations
With the advent of the start-up age over the past few years, ESOPs have become a common avenue for employers to reward their employees while also aligning the goals of the company and its employees. Being a pioneer within employee benefit valuations, the firm seamlessly branched out into the valuation of ESOP schemes as well along with all the other employee benefits that have historically been valued.
Today
Sustained growth
Despite the exponential rise of our firm, we are unequivocally guided by the values tailored into the very fabric of the organization by our founders. Integrity, professionalism, and prioritization of our clients’ needs, are the cornerstones through which we fulfill the bespoke requirements of our clients in an ever-changing and dynamic economy.
GET IN TOUCHContact Thanawala
1st Floor,
S. V. Road,
Mumbai - 400052
+91 22 66943322