Awfis CFO Ravi Dugar Quits, Sumit Rochlani To Take Over

Coworking space provider Awfis has announced a rejig in its top deck, with CFO Ravi Dugar putting down his papers and appointing ex-Boeing senior executive Sumit Rochlani in his place. 

Dugar, who resigned citing better career opportunities, 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. 

Rochlani will take up the CFO role on February 3. This would mark his second stint with Awfis, after an over two year stint heading the company’s finance vertical till May 2022. Since then, the chartered accountant had been serving as a strategic business partner to global engineering for Boeing.

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

On the financial front, the company’s net profit declined nearly 60% to INR 16 Cr in Q2 FY26 from INR 38.7 Cr a year earlier. Operating revenue for the quarter, however, grew 25% YoY and 10% QoQ to INR 366.9 Cr

In the quarter under review, the company added 8,000 seats, taking its total operational capacity to 1.47 lakh seats. As of September 2025, the company operated 237 centres across 18 cities, including nine tier I and nine tier II cities. Around 89% of its centres were located in tier I cities, with Delhi NCR, Mumbai and Bengaluru being key contributors.

The company has been increasing its exposure to larger clients. In Q2 FY26, clients with 500 seats or more accounted for 34% of the total portfolio, signalling a shift towards enterprise-led demand.

During the quarter, the board also gave an in-principle approval to move its “design and build” business (Awfis Transform) into a wholly owned subsidiary. The company said this would allow the vertical to scale independently and improve financial visibility.

Awfis has stated that it will continue focussing on premium locations and value offerings for GCCs and large enterprises, while managing costs amid rising spends.

Awfis’ share ended 1.29% lower at INR 487.5 on BSE today.

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