Hello Rehan Butt,
The upgrades are handled automatically, just replace the new project manager (Sitefinity.exe) with the older one, open it and press the Upgrade button. Next time your application runs, the upgrade will automatically take place and modify the database schema as well as the necessary files so that your system is up to date.
For more information please visit our Installation and Administration guide
Thank you for contacting us and we look forward to receiving your highly appreciated feedback.
the Telerik team
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