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Financial Controller
Job description
About Flipspaces (www.flipspaces.com)
We are a Virtual-Reality-Tech-based design and contracting venture aiming to revolutionize how consumers design and execute interior spaces. At our core is a groundbreaking technology product that gamifies the interior design experience, putting control directly in the hands of the consumer.
FlipSpaces is one of India's fastest-growing real estate ventures, with expertise in consulting, technology, design, and management of commercial real estate. Founded by high-pedigree entrepreneurs from IIT, we strive to transform how brands find, design, and manage their commercial spaces. Headquartered in Mumbai, FlipSpaces operates pan-India with offices in Bangalore, Delhi, Hyderabad, Gurgaon, Pune, Ahmedabad. International operations include USA, UAE and Singapore.
Why Flipspaces?
We're fresh off a $50M Series C raise with Marquee investors like Iron Pillar, SMBC Asia Rising Fund, Panthera Growth Partners, and CE-Invests joining the journey. With plans to multiply scale across India, the US, UAE and APJ, double down on AI-powered tech, and explore strategic acquisitions, this is your chance to join a design-tech rocketship at full throttle!
Role Summary:
As Finance Controller, you will own the end-to-end finance function for a multi-city, project-based D&B business. You will work closely with the founders, ops leadership, and city heads to ensure financial clarity, healthy cash flows, and sound business-aligned decision-making. This is a hands-on leadership role — you will build and lead a finance team, drive process discipline without creating bureaucracy, and act as a genuine business partner across a rapidly growing portfolio.
Roles and Responsibilities:
Project Finance & Accounting
- Own project-level P&L tracking across all active projects and cities
- Maintain WIP (Work-in-Progress) accounting aligned with Ind AS 115 percentage-completion method
- Set up milestone-based billing systems and follow-up protocols in coordination with PM teams
- Monitor project margins, flag cost overruns in real time, and provide financial inputs to ops leadership
- Ensure BOQ-to-invoice reconciliation on both vendor and client sides
MIS & Financial Reporting
- Build and own monthly MIS covering revenue, cost, margin, billing, and collections
- Present financial performance to founders and leadership on a monthly basis
- Prepare annual budgets, quarterly reforecasts, and variance analyses by city and project portfolio
- Support board and investor reporting as the business scales
Compliance & Controls
- Manage GST compliance for works contracts — including RCM provisions, ITC reconciliation, and multi-state returns
- Handle TDS, statutory filings, labour compliance (PF, ESIC), and ROC requirements
- Own statutory, internal, and tax audit cycles; coordinate with external auditors
- Build and enforce financial controls, SOPs, and approval workflows
Working Capital & Treasury
- Manage cash flow planning and working capital cycles across a project-heavy business
- Oversee vendor payment cycles — prioritisation, timelines, and dispute resolution
- Manage banking relationships — CC lines, bank guarantee facilities, and FD structures
- Drive collections, reduce DSO, and ensure healthy receivables management
MUST-HAVE REQUIREMENTS:
- Experience: 10+ years post-qualification, with significant time in a project-based D&B, interior, real estate, or construction business
- Qualification: Chartered Accountant (ICAI) — mandatory. CA Inter or MBA Finance profiles will not be considered for this role
- Team Leadership: Directly managed a finance team of at least 4–5 people with full accountability for their output and development
- Project Accounting: Proven hands-on experience with WIP accounting, percentage-completion revenue recognition, and project P&L management
- Compliance: Deep working knowledge of GST for works contracts — RCM, ITC, multi-state compliance — along with TDS and statutory filings
- MIS Ownership: Must have independently built and owned MIS frameworks for management reporting — not just contributed to them
- Working Capital: Experience managing banking lines (CC, BG, LC facilities) and working capital in a project-based business
GOOD TO HAVE:
- ERP implementation experience — Zoho Books, SAP FI/CO, Tally Prime
- Power BI or equivalent MIS dashboard experience
- Exposure to fundraising, financial modelling, and investor due diligence support
- Experience setting up finance for new cities or geographies, including UAE / international compliance
- Background in a high-growth startup or scale-up environment
WHAT MAKES THIS ROLE HARD:
- Financial visibility in a project-based business is structurally complex — costs and revenues recognise at different times across 20+ simultaneous projects in multiple cities, and clean reconciliation is never a given.
- Being the bearer of financial rigour in a fast-growth culture — holding firm on controls when the pressure to move fast creates shortcuts, without being seen as a blocker.
- Cash flow in commercial interiors is notoriously unpredictable — client payment delays, vendor advance demands, and retention holdbacks require constant active management with no single lever to pull.
- GST compliance for works contracts in a multi-state, multi-city business with a mix of materials and services is among the most technically complex compliance challenges in Indian taxation.
- Building a finance function that keeps pace with rapid city expansions and a growing project portfolio — without adding headcount proportionally and without letting controls slip.
WHAT WE'RE LOOKING FOR:
Beyond the technical requirements, we are looking for someone who:
- Is collaborative by nature — works with ops, design, and project teams as an enabler, not a gatekeeper
- Has a flexible working style — no 'my way or the highway'. Adapts to what the business needs and builds consensus
- Takes full ownership of the finance function and operates with urgency consistent with a fast-scaling company
- Is commercially aware — understands how a project business makes money, not just how it is accounted for
- Is comfortable building structure in ambiguous, fast-moving environments without needing everything defined upfront
Required skills
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Company information
- Company
- Flipspaces
- Location
-
India, Maharashtra, Mumbai
India - Posted
- 2 weeks ago
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