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Seema VaqrulaniChief Financial Officer

Explain what sits inside the growth number

Chief Financial Officer India

I want a software company's growth account to explain what it has earned, retained and committed to pay.

Open to Board appointments · Executive opportunities

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Finance colleagues
27
Four managers; ₹4.8 crore annual function expenditure
Company revenue
₹126 crore
FY2025–26; ₹18 crore operating profit
Finance experience
30 years
Engineering-services accounts to software CFO

Growth becomes harder to judge when its components are hidden inside an attractive total. I want finance to separate the customer relationship that continued, the expenditure that qualified for a particular treatment and the payment that depends on a future condition. The explanation should survive a reader asking how the number was made.

I lead software finance by making the composition of growth and commitment visible before a headline becomes the basis for investment.

I am CFO of Qerulvi Spatial Software in Kochi. We develop geospatial workflow products and provide implementation support for infrastructure owners and engineering businesses in India. Our FY2025–26 revenue was ₹126 crore, with ₹18 crore operating profit and 370 employees. I lead twenty-seven finance colleagues through four managers and manage ₹4.8 crore of annual function expenditure. I report to Joel Velmari and bring financial judgements to directors through our scheduled reporting process. I am not a director, and technical product acceptance, legal interpretation and statutory assurance retain their own qualified owners.

I began in engineering-services accounts in 1996, where the first task was to understand what a cost belonged to before deciding how to describe it. Software added questions that were less visible than a supplier invoice: whether expenditure related to research, maintenance or qualifying development; whether growth came from customers staying or new customers arriving; and whether an acquisition payment was certain or conditional. I have worked through project finance, control and planning roles before taking the CFO appointment in 2021. Those roles taught me to explain a financial judgement without allowing the explanation to become more confident than its evidence.

The cases here concern ₹3.6 crore of product work, an ₹84 crore opening subscription cohort and an acquisition proposal with both upfront and conditional payments. We reduced the development amount proposed for capitalisation, corrected a retention presentation that included new customers and separated the acquisition's price from integration expenditure. None of those changes created cash merely by improving the description. They changed the evidence available to directors and operating leaders, including information that made the preferred story less flattering. I want finance to be useful precisely when a clearer account makes the decision more difficult.

Product work was not all the same accounting asset

Qualified review supported ₹1.4 crore of a ₹3.6 crore product programme for capitalisation under the applicable policy. The remaining ₹2.2 crore was expensed rather than hidden inside a broad development label.

New customers did not belong in the retention measure

An ₹84 crore opening cohort lost ₹13.4 crore and expanded by ₹9 crore. We reported 84.0% gross and 94.8% net retention, separately from ₹19 crore of new-customer annualised value.

The deal had more than one payment condition

An acquisition paper separated ₹8 crore upfront, up to ₹4 crore contingent consideration and ₹1.1 crore planned integration expenditure. The conditional amount remained a range until its agreed tests were met.

Current focus

I am improving how product investment and subscription performance reach the board, with assumptions that can be checked across successive reporting periods.

Conversations I welcome

I am interested in finance and board conversations where a software business needs a more precise account of growth, product expenditure and acquisition responsibility.

The leadership record

Trusted with consequential decisions.

Formation

  • Bachelor of Commerce in AccountingNirquli College of Commerce · 1996
Seema kept the new-business result visible while correcting the retention headline. We could discuss both growth and the weakness in existing relationships without confusing them.
Joel VelmariChief Executive Officer, Qerulvi Spatial Software
The full record ↗

Contact

I am interested in finance and board conversations where a software business needs a more precise account of growth, product expenditure and acquisition responsibility.

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