Awfis Space Solutions Announces Changes in CFO Position

Awfis Space Solutions has disclosed the resignation of its Chief Financial Officer Ravi Dugar, who plans to leave on February 2, 2026, to explore new career prospects. The company indicated that Dugar will fulfil his responsibilities until his final working day to facilitate a seamless transition.

New CFO Appointment

In conjunction with this change, the board has endorsed the selection of Sumit Rochlani as the new CFO, effective February 3. This decision follows recommendations from both the nomination and remuneration committee and the approval of the audit committee. Rochlani is a chartered accountant, bringing over 14 years of expertise in areas such as audit, controllership, financial planning and analysis, corporate finance, and indirect taxation.

Background of Sumit Rochlani

Previously, Rochlani held the position of Head of Finance at Awfis from May 2020 to May 2022. He has an extensive background, having worked with Boeing for more than six years prior to January 2020, and later returned to the aerospace giant for an additional three years and ten months before coming back to Awfis.

Recent Financial Performance

This leadership change occurs amidst a significant decrease in profitability for Awfis in Q2 FY26, despite an increase in revenue. The company, supported by Peak XV, reported a 25.5% year-on-year growth in revenue from operations, amounting to Rs 366.9 crore for the quarter, primarily driven by its coworking sector. Nevertheless, net profit saw a nearly 60% decline to around Rs 16 crore, as various expenses, including depreciation and finance costs, escalated at a quicker rate.

Employee Stock Options Granted

In a separate announcement, Awfis revealed that its nomination and remuneration committee has approved the issuance of 10,000 employee stock options under its ESOP 2024 scheme. These options come with an exercise price of Rs 345.73 per share, approximately 30% lower than the previous day’s closing rate, and can be converted into equity shares valued at Rs 10, which amounts to about Rs 35 lakhs.

Regulatory Authorisation

Furthermore, the board has granted the CFO the authority as a key managerial personnel to assess the significance of events and to ensure compliance with SEBI’s listing regulations.