Awfis CFO Ravi Dugar steps down; Sumit Rochlani takes over

Ravi Dugar, chief financial officer (CFO) of the co-working company Awfis, has stepped down from his role to pursue new career opportunities, the company said on Monday.

Dugar will continue in his role till February 2, after which he will be formally relieved of his duties.

The company has appointed Sumit Rochlani as its new CFO with effect from February 3, it said in a stock exchange filing. Rochlani had previously served as Awfis’s head of finance for two years, before moving to the aerospace firm Boeing in 2022.


“After much reflection, I have decided to pursue better career opportunities and serving Awfis for over three years has been one of the most rewarding chapters of my professional journey,” Dugar said.

During Q4FY25, the New Delhi-based company had elevated Sumit Lakhani, who was serving as the deputy CEO, to CEO.

Awfis posted a 25% year-on-year (YoY) rise in operating revenues for the September quarter, at Rs 367 crore, up from Rs 292 crore driven by sustained demand, healthy occupancy levels, and operational efficiency. It reported a net profit of Rs 16 crore for the quarter, down from Rs 39 crore a year ago.

As of September 30, it had operations in 18 cities, with 237 centres, 1,61,000 seats, and covering an area of 8 million square feet.

Shares of the company closed 1.29% down on Monday, at Rs 487.50 on the BSE.