Awfis Space Solutions has announced a key leadership change with Chief Financial Officer Ravi Dugar tendering his resignation, effective February 2, 2026. The company said Dugar will step down to pursue other career opportunities and will continue in the role until his last working day to ensure a smooth transition, according to a regulatory filing.
The Awfis 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 spanning audit, controllership, financial planning and analysis, corporate finance, and indirect taxation. He previously served as Head of Finance at Awfis between May 2020 and May 2022. Prior to that, Rochlani spent over six years with aerospace major Boeing before January 2020 and later rejoined the company for another three years and ten months, before returning to Awfis.
The leadership transition comes at a time when the Peak XV-backed flexible workspace operator reported a sharp decline in profitability despite continued revenue growth. In Q2 FY26, Awfis’ revenue from operations rose 25.5% year-on-year to ₹366.9 crore, driven largely by its core coworking business. However, net profit fell nearly 60% to around ₹16 crore, as higher depreciation and finance costs weighed on earnings.
Separately, Awfis said its nomination and remuneration committee has approved the grant of 10,000 employee stock options under the ESOP 2024 scheme. The options have an exercise price of ₹345.73 per share, around 30% lower than the previous day’s closing price, and are convertible into equity shares of face value ₹10, with an aggregate value of approximately ₹35 lakh.
The board has also authorised the CFO as a key managerial personnel to determine the materiality of events and ensure timely disclosures under SEBI’s listing regulations.
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