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Awfis CFO Ravi Dugar resigns; Sumit Rochlani to take over

EntrackrEntrackr · 2m ago
Awfis CFO Ravi Dugar resigns; Sumit Rochlani to take over
Medial

Awfis CFO Ravi Dugar resigns; Sumit Rochlani to take over Awfis Space Solutions has announced the resignation of its Chief Financial Officer Ravi Dugar, who will step down on February 2, 2026, to pursue other career opportunities. Dugar will continue in the role until his last working day to ensure a smooth transition, the company said in a regulatory filing. The board has approved the appointment of Sumit Rochlani as the new CFO effective February 3, following recommendations from the nomination and remuneration committee and approval of the audit committee. Rochlani is a chartered accountant with over 14 years of experience across audit, controllership, financial planning and analysis, corporate finance, and indirect taxation. He earlier served as Head of Finance at Awfis from May 2020 to May 2022. Rochlani was previously associated with Boeing for over six years before January 2020 and later rejoined the aerospace major for another three years and ten months, before returning to Awfis. The leadership change comes at a time when Awfis reported a sharp decline in profitability in Q2 FY26 despite revenue growth. The company’s revenue from operations rose 25.5% year on year to Rs 366.9 crore during the quarter, supported mainly by its coworking business. However, net profit fell nearly 60% to around Rs 16 crore as expenses, including depreciation and finance costs, rose at a faster pace. Separately, Awfis said its nomination and remuneration committee has approved the grant of 10,000 employee stock options under its ESOP 2024 scheme. The options carry an exercise price of Rs 345.73 per share, about 30% lower than the previous day’s closing price, and are convertible into equity shares of face value Rs 10, which are worth around Rs 35 lakhs. The board has also authorised the CFO as a key managerial personnel to determine the materiality of events and ensure disclosures under SEBI’s listing regulations.

Gupshup appoints Ravi Dugar as Chief Financial Officer

EntrackrEntrackr · 22h ago
Gupshup appoints Ravi Dugar as Chief Financial Officer
Medial

Gupshup appoints Ravi Dugar as Chief Financial Officer Conversational AI platform Gupshup has appointed Ravi Dugar as its Chief Financial Officer as the company prepares for its next phase of growth. Dugar brings nearly two decades of experience in finance leadership across high-growth companies and global businesses. Prior to joining Gupshup, he held senior finance roles at Bharti Airtel and Livguard Energy Technologies. Most recently, he served as CFO at Awfis where he helped lead the company’s finance function and preparations for its public market debut in 2024. At Gupshup, Dugar will lead the company’s financial strategy, including long-term financial planning, capital allocation and investor engagement. He will also work with the leadership team on strategic initiatives such as partnerships, investments and acquisitions as the company expands its conversational AI platform globally. Founded by Beerud Sheth, Gupshup provides conversational AI solutions for marketing, commerce and customer support. The platform serves over 50,000 businesses across 130 countries and processes more than 120 billion messages annually across channels such as WhatsApp, voice, web and mobile applications. Last year, Gupshup had raised $60 million in a fresh round of equity and debt funding from Globespan Capital Partners. Gupshup turned unicorn after raising $100 million from Tiger Global in April 2021. The firm also raised $240 million in the same year and took over Knowlarity, Active.Ai and Onedirect. In 2024, Gupshup laid off around 300 employees as part of a restructuring exercise aimed at improving operational efficiency and moving toward profitable growth after a period of rapid expansion. While the company has not yet filed its FY24 and FY25 financial results, it had reported revenue of Rs 1,619 crore and a profit of Rs 49 crore in FY23. The company is estimated to have ended FY24 with revenue of around $300 million (about Rs 2,500 crore). In India, Gupshup competes with players such as Freshchat (Freshworks), WATI and Zoho SalesIQ in the conversational AI and CPaaS segment.

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