Field experiment was carried out at Banana Research Station, Kannara, Thrissur district, Kerala to evaluate the quality of vermicomposts prepared from crop residues in vermibeds (ex-situ) and pits (in-situ) using Eisenia foetida and Perionyx excavatus. Equal proportions of glyricidia leaves, banana residues, dried coconut leaves and cowdung slurry were used as substrates. Seven compost preparation treatments comprising of combinations of two earthworms species and two modes of composting with native soil as absolute control were used for the study. The pH of the compost varied from 7.1 to 8.3 as against 4.7 for experimental soil. Ex-situ composts prepared in silpaulin vermibeds showed significantly higher contents of N, P, K, S, dehydrogenase activity and auxin concentration whereas in-situ pit vermicompost was found to be better in Ca, Fe, Mn, Cu and Cr contents. However, both (in-situ and ex-situ) composts were found to be in accordance with the quality standards prescribed by The Fertilizer (Control) Order, Government of India for vermicompost.