Fifth seed Prannoy, who had notched up victories against two top-15 players -- Denmark's Jan Jorgensen and Wing Ki Wong of Hong Kong in the Japan Open, was in full flow when he defeated the fourth seeded Shreeyansh Jaiswal 19-21 21-14 21-15 in a close quarterfinal contest.
Srikanth also continued his good form that started with the Indian Badminton League, registering a 21-15 21-6 win over unseeded Tarun Kona, who pairs up with Ashwini Ponnappa in mixed doubles event in international circuit.
In another closely contested pre-quarters, Chetan Anand beat Daniel Farid 21-14 21-23 21-15 and reached the semifinals after Sai Praneeth gave him a walkover in the quarters.
The fourth semifinalist is third seed Sourabh Verma, who beat sixth seed Subhankar Dey 21-12 21-19.
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Chetan will take on Saurabh, while Prannoy will go up against Srikanth in the semifinals tomorrow.
In the women's singles, top seed Arundhati Panthawane had a comfortable win over Maya Dasrat 21-10 21-10, while fourth seeded Trupti Murgunde lost to a fighting Riya Pillai 13-21 17-21.
In the men's doubles quarter-finals, the top-seeded pair of Pranaav Chopra and Tarun Kona defeated Bijon Bannerjee and Amitabh Goswami 21-0 21-9.
In the second quarter finals, Hema Nagendre Babu and Santhosh Ravuri defeated fourth seeded Arsalan and Daniel Farid 21-11 21-13.
In women's doubles, Arathi Sara Sunil and Ashwani Ponnappa will take on top seeds Aparna Balan and Prajakta Sawant in the finals.