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The Defenders won 15-7, 15-10, 18-20, 13-15, 15-10 at the Regional Sports Centre in Kochi.
The Defenders will take on Bengaluru Torpedoes in the final on Sunday.
Pankaj Sharma was the star performer for the winners.
The Thunderbolts defeated Ahmedabad Defenders 15-7, 15-4, 15-13, 8-15, 11-15.
Mumbai Meteors were also knocked out after the Spikers won 15-14, 15-11, 15-12, 12-15, 15-10.
The Torpedoes won 15-11, 15-11, 13-15, 10-15, 15-14 in Kochi on Tuesday.
Vinit Kumar impressed as the Thunderbolts won 15-12, 15-9, 15-14, 15-13, 10-15.
The Defenders have become the first team to qualify for the semifinals this season.
The Spikers won their first match of the season, 15-13, 14-15, 12-15, 15-7, 15-11.
The Heroes won 13-15, 15-8, 15-14, 15-13, 8-15 at the Regional Sports Centre in Kochi.