In 2000, the first stone was laid for the monument to Afanasy Nikitin, timed to the 100th anniversary of the Russian consulate in Mumbai. The monument was inaugurated in 2002. Pilankara College offered to install it on its grounds, to the left of the entrance to the building.

The 7-meter tall stela is clad in black granite, and on each side are gold memorial plaques telling in four languages about whom the obelisk is dedicated: in Hindi, Marathi, English, and Russian. The monument looks particularly grand due to its wide quadrangular base and a fence made of granite pillars connected by a chain. Nearby is a small granite slab with a quote from Nikitin's book in English, describing his arrival on this shore.

The mention of "Journey Beyond Three Seas" immediately evokes the image of the great Russian merchant and traveler who first "discovered" India for Europe. While the Portuguese Vasco da Gama had not yet contemplated distant voyages, Afanasy Nikitin was already engaging and trading with the peoples of the Caucasus, Central Asia, the Middle East, and Hindustan. The Russian traveler created detailed descriptions of the peoples that Russians had previously not known.