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Indus Towers

Q3 FY25Telecom - Services

Indus Towers Q3 FY25 earnings call: Revenue & Margins

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹387
Market cap₹99.1K Cr
P/E13.9
Updated26 Aug 2026
Read4 min read

The short version

Future growth expectations in sales/revenue/volumes for Indus Towers Limited: - Strong growth expected driven by ongoing network expansion of major customers. Indus Towers expects ongoing network expansion by major customers to provide ample growth opportunities.

From Indus Towers's Q3 FY25 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

Future growth expectations in sales/revenue/volumes for Indus Towers Limited: - Strong growth expected driven by ongoing network expansion of major customers. - Visibility of next 3-4 quarters indicates robust order book for tower and co-location additions. - Total macro towers and co-locations grew 10.8% and 7.2% YoY respectively; tenancy additions stable. - Increasing 5G deployment to drive demand for new sites once penetration reaches critical level. - Small cells, lean towers, and In-Building Solutions (IBS) market expected to grow as networks densify. - Small cells and IBS currently contribute small revenue but viewed as strategic for network requirements. - EV charging infrastructure business is early stage but targeted for mid-to-high double-digit returns in future.

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Profitability & Margins

See what Indus Towers said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Indus Towers continues to invest in core tower infrastructure and network expansion with strong order book visibility for the next 3-4 quarters.
  • Around 20% of capex goes into replacement, including battery replacements (transitioning to Li-ion for efficiency and longer life).
  • About 5-10% capex is allocated to IT and other initiatives.
  • Investments include over 28,000 solar sites already deployed, focusing on renewable energy and energy optimization.
  • Signed a Power Purchase Agreement (PPA) for 130 MW green open access renewable energy with a 26% equity stake.
  • Small cells, in-building solutions (IBS), and lean towers are seen as growing opportunities over 3-5 years but currently contribute a small share of revenue.

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Top-ranked in Telecom - Services

Ranked on what management guided this quarter

Guidance-ranked
1HFCL
Rev 1Mar 1
2Pace Digitek Ltd
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • Indus Towers Limited reported a strong order book for both tower and co-location additions from all customers.
  • The company expects robust growth in these segments in the foreseeable future.
  • The management has visibility of the order pipeline for the next three to four quarters as of the Q3 December 2024 call.
  • This pipeline includes contributions from major customers like Bharti Airtel and Vodafone Idea.
  • Indus Towers is well positioned to monetize existing single-tenant towers by adding second tenants, supporting tenancy growth.

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Indus Towers — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹8.1K Cr, net profit ₹1.8K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Indus Towers Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Indus Towers Q3 FY25 results?

Future growth expectations in sales/revenue/volumes for Indus Towers Limited: - Strong growth expected driven by ongoing network expansion of major customers. Indus Towers expects ongoing network expansion by major customers to provide ample growth opportunities.

What is Indus Towers share price analysis?

Indus Towers currently shows a neutral. The stock trades at a P/E of 13.9 with a market cap of ₹99,129 Cr. Investors should review the full earnings analysis for detailed insights.

Is Indus Towers planning capital expenditure?

Indus Towers continues to invest in core tower infrastructure and network expansion with strong order book visibility for the next 3-4 quarters.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.