The actress will film her final scenes as Jade Mitchell in August after two years playing the role.
© Channel 5
© Channel 5
Pranita told Channel 5: "The decision was made with a heavy heart as I love this job, but I just felt that two years was long enough to play one character.
"I became an actor to play lots of different characters and, while Jade has been an amazing role, I feel I want to challenge myself to do other things."
Pranita will work on a project with her theatre company Cry Havoc in Sydney after filming her Neighbours exit. She is then planning to search for acting opportunities in Los Angeles.
She commented: "I've always aspired to have a crack at LA, and I don't want to be left wondering. However, I'm definitely not opposed to working in Australia - I love the industry here."
Pranita also promised that "hearts will be broken and lots of tears will be shed" in the final storyline for Jade, who is currently in a relationship with Kyle Canning (Christopher Milligan).
Neighbours fans will see Jade's exit towards the end of the year.
