Altius Telecom Infrastructure Trust

Q2 FY26

Altius Telecom Infrastructure Trust Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹173

Market cap₹52.3K Cr

P/E41.3

Updated23 Aug 2026

Read4 min read

The short version

Revenue and EBITDA CAGR expected to be in the range of 4% to 7%, driven by both tower additions and tenancy growth. Revenue and EBITDA are projected to grow at a CAGR of 4% to 7%, driven by underlying growth in towers and tenancies as well as annual escalations (~2.5%) on contracts.

From Altius Telecom Infrastructure Trust's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Revenue and EBITDA CAGR expected to be in the range of 4% to 7%, driven by both tower additions and tenancy growth.
Distribution guidance for FY26 is INR 15.3 per unit, indicative of steady distribution and cash flow trajectory.
Growth fueled by contractual escalations (~2.5% annual escalations), organic expansion through increased tower deployment and tenancy additions, and strategic acquisitions.
Increasing data consumption and smartphone penetration in India create strong demand; data per user expected to rise from ~22 GB to potentially 50+ GB in the next 5 years.
Market growth supported by telecom operators' continuous network optimization and expansion despite capex moderation signals.
Short to medium term focus on maximizing existing portfolio tenancy while exploring adjacencies cautiously; inorganic growth opportunities will be pursued if attractive.
Expansion tied with rising digital consumption, internet penetration growth (currently 71%), and smartphone penetration (currently ~48%), both expected to increase substantially, driving network infrastructure needs.

Profitability & Margins

Revenue and EBITDA are projected to grow at a CAGR of 4% to 7%, driven by underlying growth in towers and tenancies as well as annual escalations (~2.5%) on contracts.
Distribution per unit (DPU) guidance for FY26 is INR 15.3, reflecting a steady state distribution trajectory with at least 90% of net distributable cash flow distributed quarterly.
Growth is supported by rising data consumption, smartphone penetration, and internet adoption leading to organic expansion, tenancy additions, and strategic acquisitions.
Long-term leases with weighted average lease expiry of nearly 17 years and 55% of tenancies locked in for 30 years provide predictable, low-risk cash flows.
Operational focus on maximizing portfolio growth and disciplined capital allocation aims to sustain growth in operating earnings and cash distributions.

See what Altius Telecom Infrastructure Trust said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

No major capex expected for Roam Digitel as it currently has no operations.
Crest Digitel to experience "business as usual" capex, driven by demand.
Capex decisions are made based on a robust, risk-adjusted rate of return framework.
Focus is on maximizing the existing portfolio and disciplined capital allocation.
No specific large-scale new strategic investments announced; potential adjacencies like fiber or data centers are in very early discussion stages.
The company maintains strong financial flexibility with a net debt to AUM of 47% and significant headroom for future growth capex via debt.
Emphasis on operational excellence and sustainable growth in near to medium term rather than aggressive new investments.

Fundraising & Capital Structure

Altius Telecom Infrastructure Trust currently has a well-capitalized balance sheet with net debt to AUM at 47%, leaving significant headroom for future growth capex financing through additional debt.
The Trust has a diversified debt book of INR 440 billion from over 40 lending partners, with 29% floating rate loans and the rest fixed, providing flexibility amid changing interest rate cycles.
Recent refinancing included INR 66 billion of bank loans converted into longer-term bonds at lower yields, and there are INR 44 billion in upcoming maturities, presenting further opportunities to reduce cost of debt and extend duration.
The Trust’s leverage ceiling as per SEBI regulations is 70%, indicating potential capacity to raise additional debt.
No explicit mention of new equity fundraising in the disclosed excerpts, with focus primarily on debt financing and optimization.

See what Altius Telecom Infrastructure Trust said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript does not explicitly mention current or expected orderbook or pending orders for Altius Telecom Infrastructure Trust. However, relevant insights related to growth and demand include: - The telecom sector is seeing ongoing demand for network capacity expansion driven by rising data consumption and smartphone/internet penetration. - Operators like BSNL, Vodafone, Jio, and Airtel are actively rolling out and upgrading 4G/5G networks. - Altius is engaged with BSNL's RFP and other operators' rollouts. - The Trust expects organic growth from tenancy additions and new tower deployments, driven by latent demand. - Capex is considered on a risk-adjusted basis as and when demand arises. - The company maintains a strong balance sheet with headroom for financing future growth capex. - Management focuses on maximizing portfolio utilization and tenant engagement but does not quantify specific pending orders. No specific orderbook or pending order values were disclosed.

Altius Telecom Infrastructure Trust — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹6.0K Cr, net profit ₹310 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Altius Telecom Infrastructure Trust's management said in earlier quarters

Q4 FY26 earnings call analysis →

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Frequently Asked Questions

What were Altius Telecom Infrastructure Trust Q2 FY26 results?

What is Altius Telecom Infrastructure Trust share price analysis?

Altius Telecom Infrastructure Trust currently shows a neutral. The stock trades at a P/E of 41.3 with a market cap of ₹52,263 Cr. Investors should review the full earnings analysis for detailed insights.

Is Altius Telecom Infrastructure Trust planning capital expenditure?

No major capex expected for Roam Digitel as it currently has no operations.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.