Awfis CFO Ravi Dugar steps down; Sumit Rochlani to take over

Coworking space provider Awfis has announced changes in its senior leadership, with CFO Ravi Dugar stepping down and former Boeing senior executive Sumit Rochlani appointed as his replacement.

Dugar resigned citing better career opportunities and will continue in his role until February 2. He had been with Awfis for over three years and was part of the team that led the company’s IPO.

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Rochlani will take over as CFO on February 3. This will be his second stint at Awfis, after spending more than two years leading the company’s finance function until May 2022. Since then, the chartered accountant has been working as a strategic business partner to global engineering at Boeing.

Founded in 2015 by Amit Ramani, Awfis operates flexible workspaces across India for startups, SMEs, large enterprises, and global capability centres (GCCs). It follows a managed aggregator model, leasing properties from landlords, setting up office spaces, and renting them out on flexible terms.

Financially, the company’s net profit fell nearly 60% to INR 16 crore in Q2 FY26, down from INR 38.7 crore a year earlier. However, operating revenue grew 25% year-on-year and 10% quarter-on-quarter to INR 366.9 crore.

During the quarter, Awfis’ board approved in principle moving its “design and build” business, Awfis Transform into a wholly owned subsidiary. The company said that it will help the vertical grow independently and improve financial transparency.

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Awfis also stated that it will continue focusing on premium locations and value offerings for GCCs and large enterprises while keeping costs under control amid rising expenses.

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