Awfis CFO Ravi Dugar resigns; Sumit Rochlani to take over

Awfis Space Solutions has announced the resignation of its Chief Financial Officer Ravi Dugar, who will step down on February 2, 2026, to pursue other career opportunities. Dugar will continue in the role until his last working day to ensure a smooth transition, the company said in a regulatory filing.

Meanwhile, the board has approved the appointment of Sumit Rochlani as the new CFO effective February 3, following recommendations from the nomination and remuneration committee and approval of the audit committee. Rochlani is a chartered accountant with over 14 years of experience across audit, controllership, financial planning and analysis, corporate finance, and indirect taxation. He earlier served as Head of Finance at Awfis from May 2020 to May 2022. Rochlani was previously associated with Boeing for over six years before January 2020 and later rejoined the aerospace major for another three years and ten months, before returning to Awfis.

The leadership change comes at a time when Awfis reported a sharp decline in profitability in Q2 FY26 despite revenue growth. The Peak XV-backed company’s revenue from operations rose 25.5% year on year to Rs 366.9 crore during the quarter, supported mainly by its coworking business. However, net profit fell nearly 60% to around Rs 16 crore as expenses, including depreciation and finance costs, rose at a faster pace.

Separately, Awfis said its nomination and remuneration committee has approved the grant of 10,000 employee stock options under its ESOP 2024 scheme. The options carry an exercise price of Rs 345.73 per share, about 30% lower than the previous day’s closing price, and are convertible into equity shares of face value Rs 10, which are worth around Rs 35 lakhs.

The board has also authorised the CFO as a key managerial personnel to determine the materiality of events and ensure disclosures under SEBI’s listing regulations.