Indus Towers is a provider of tower and related infrastructure sharing services. It is one of the largest telecom tower companies in India based on the number of towers and co-locations operated by the Company. It provides access to its towers, primarily to wireless telecommunication service providers, on a shared basis under long-term contracts. Indus Towers Limited is an Indian telecommunications infrastructure company offering passive infrastructure services to mobile network operators and other wireless services providers. Headquartered in Gurugram, Haryana, Indus Towers was incorporated in November 2007 by Bharti Infratel, Vodafone Essar, and Idea Cellular, to provide shared telecom infrastructure to telecom operators on a non-discriminatory basis.
The company operates under the stock symbol INDUSTOWER on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Market Cap ₹ 1,14,521 Cr. as of recent trading data, making it one of the most valuable telecom infrastructure companies in India.
Indus Towers Limited has over 192,874 towers and 342,831 co-locations and a nationwide presence covering all 22 telecom circles. It has the widest coverage in India and has already achieved 289,000 tenancies, a first in the telecom tower industry globally. The company's extensive infrastructure network positions it as a critical enabler of India's digital transformation.
Some of its major customers include Airtel, Bharti Hexacom, Jio and Vi. This diversified customer base provides stability and growth opportunities as telecom operators continue to expand their network coverage across urban and rural India.
Telecom infrastructure company Indus Towers on Wednesday reported a net profit of Rs 1,779 crore for the March quarter, registering a decline of 4 per cent year-on-year. The revenue for the just-ended quarter came in at ₹7,727 crore, up 7.4% year on year.
The quarterly performance showed mixed results with revenue growth but a slight decline in profitability. Q4 FY25 financial results includes an accounting impact of Rs 183 crore for operating expenses and depreciation due to accounting adjustments related to asset acquisitions.
For the full year ended March 2025, the consolidated revenues stood at Rs 30,123 crore, up 5.3 per cent. The consolidated profit after tax was Rs 9,932 crore, up 64.5 per cent. This represents a strong annual performance with significant profit growth despite modest revenue increases.
Key financial metrics for FY25:
- Revenue: ₹30,123 crore (up 5.3% YoY)
- Net Profit: ₹9,932 crore (up 64.5% YoY)
- Q4 FY25 Revenue: ₹7,727 crore (up 7.4% YoY)
- Q4 FY25 Net Profit: ₹1,779 crore (down 4% YoY)
Post-merger, Bharti Airtel held a 36.73% stake in Indus Towers, with Vodafone Group Plc holding 28.12%, and 3.1% shares held by Providence Equity. Currently Indus Towers is a subsidiary of Bharati Airtel after the latter increased it's stake to 50.005% & Vodafone Group Plc exited the company
Promoter holding in Indus Towers Ltd has gone down to 50.00 per cent as of Mar 2025 from 53.01 per cent as of Sep 2024. This indicates some dilution in promoter holding, though the controlling stake remains with Bharti Airtel.
The total tower base grew by 10.79% to 2,34,643 units as on 31 December 2024 as compared to 2,11,775 units as on 31 December 2023. This substantial growth in infrastructure demonstrates the company's ability to capitalize on India's expanding telecommunications needs.
The company has also been recognised for its commitment to sustainability and has been awarded the GreenCo Silver rating for its efforts in energy efficiency. This sustainability focus aligns with increasing environmental consciousness in corporate operations.
Shares of the company have rallied over 19% so far in the calendar year 2025. In the past 30 days, the stock price has jumped over 15%. This positive momentum reflects investor confidence in the company's growth prospects.
The stock performance metrics indicate strong investor interest, with Foreign Institutional Investors (FII) have consistently increased their stake in Indus Towers Ltd, reaching 67.2% in March 2025, up from 63.2% in the same quarter last year.
FY25 was another excellent year for us with an all-round performance. We delivered one of our highest ever tower and co-location additions as we continued to garner a major share of our customers' rollouts. The company's management has expressed confidence in maintaining growth momentum.
Industry developments during the year have only strengthened the outlook for the company and the sector. Given our inherent strengths and leadership position, we are confident of maintaining the momentum by capitalising on customers' network expansion and available strategic opportunities.
Indus Towers represents a compelling investment opportunity in India's telecommunications infrastructure sector. The company's dominant market position, diversified customer base, and strong financial performance make it an attractive option for investors seeking exposure to India's digital growth story. However, investors should consider the company's high debt levels and monitor industry consolidation trends that could impact future growth prospects.
The company's commitment to sustainability, technological advancement, and strategic expansion positions it well to benefit from India's ongoing digital transformation and the rollout of advanced telecommunications networks including 5G infrastructure.
