Awfis Announces CFO Resignation and Successor Appointment

Awfis Space Solutions has announced that Chief Financial Officer Ravi Dugar will resign, effective 2 February 2026, to pursue other career opportunities. According to a regulatory filing, Dugar will remain in his role until his last working day to ensure a smooth transition.

Sumit Rochlani Appointed as New CFO

The board has approved the appointment of Sumit Rochlani as CFO, effective 3 February 2026, following recommendations from the nomination and remuneration committee and approval by the audit committee.

Rochlani is a chartered accountant with over 14 years of experience, covering audit, controllership, financial planning and analysis, corporate finance, and indirect taxation. He previously served as Head of Finance at Awfis from May 2020 to May 2022 and also worked with Boeing for multiple stints before and after this period.

The nomination and remuneration committee approved the grant of 10,000 employee stock options under the ESOP 2024 scheme. The options carry an exercise price of ₹345.73 per share, roughly 30% below the previous day’s closing price, and are convertible into equity shares of face value ₹10, with a total worth of around ₹35 lakh.

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Financial Performance Amid Leadership Change

The leadership transition comes at a challenging time for Awfis. In Q2 FY26, the company’s revenue from operations rose 25.5% year-on-year to ₹366.9 crore, driven mainly by its coworking business. However, net profit fell nearly 60% to around ₹16 crore, as expenses, including depreciation and finance costs, rose faster than revenue.

The board has also authorised the CFO as key managerial personnel to determine the materiality of events and ensure compliance with SEBI listing regulations.

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