Mobile ARPU
₹257
+₹3 QoQ
ARPU growth was muted due to West Asia crisis impacting roaming and unlimited data plans.
BHARTIAIRTEL
Other
30 Apr 2026
Bharti Airtel Ltd — Q4 FY26
Bharti Airtel reported a strong Q4 FY26 with consolidated revenue of ₹55,400 crore, up 2.6% sequentially.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Bharti Airtel reported a strong Q4 FY26 with consolidated revenue of ₹55,400 crore, up 2.6% sequentially. India EBITDA margin improved 20 bps to 52%, driven by portfolio premiumization and cost controls. Mobile ARPU was ₹257, up only ₹3 sequentially due to West Asia crisis impact on roaming and unlimited data plans. The company added 4.7 million mobile customers and 1.1 million home broadband subscribers. Management highlighted a broken pricing architecture and sees large headroom for ARPU growth via postpaid expansion and consumption upgrades. Capex for FY26 India (ex-passive) was ₹31,000 crore, with operating free cash flow of ₹41,500 crore. New growth bets in data centers, financial services (NBFC approval), and Airtel Cloud are progressing. Key risk: rising handset and chipset prices could slow smartphone upgrades and home broadband additions.
Key Numbers
Mobile Customer Additions
4.7M
+4.7M QoQ
Strong customer additions driven by rural expansion and postpaid growth.
Home Broadband Net Adds
1.1M
+1.1M QoQ
Record quarterly additions led by FWA and FTTH expansion.
Order Book Growth (B2B)
17%
+17% YoY
Healthy order book growth in enterprise business driven by digital services.
Management Guidance
Capex to remain in ballpark of FY26 levels
Management expects India capex (ex-passive) to be around ₹31,000 crore for FY27, similar to FY26, with focus on fiber, edge data centers, and homes.
Management guidance capexProgressive dividend policy
Dividend increased 50% to ₹24 per share for FY26; management committed to progressive increases.
Management guidance otherFinancial services NBFC launch
Airtel Money received RBI approval to operate as NBFC; commercial launch underway with ₹20,000 crore allocation over 5 years.
Management guidance expansionData center capacity target
Ambition to build 1 GW data center capacity over the next few years; Nextera raised $1 billion from marquee investors.
Management guidance growthKey Risks
Handset price increases may slow upgrades
Rising handset and chipset prices could dampen feature phone to smartphone upgrades, impacting ARPU growth.
medium · management_commentaryUnlimited data plans distort pricing architecture
Management acknowledged that unlimited 5G plans cap ARPU and make it difficult to raise prices without competitive response.
high · management_commentaryRegulatory provision uncertainty
A regulatory charge was booked in Q4; management did not provide specifics, raising concerns about potential future liabilities.
medium · analyst_questionChipset supply constraints for FWA
Rising memory and chipset prices have made FWA more expensive than fiber, potentially slowing home broadband growth.
medium · management_commentaryNotable Quotes
The price architecture in this country is broken. You contrast Indian pricing with African pricing... nowhere in the world do you see this capping out at unlimited data at these levels.
We are not happy with the ARPU increase of rupees 3. Part of this issue was linked to West Asia crisis and international roaming revenues. But we are now determined to doubling down on all our levers on our pool and growing and accelerating the space.
Our stake must go back to BTL. For that, I need a little bit more leeway in the hands of BTL which I'm hoping will be delivered through continuously enhanced dividend as you are seeing.
Frequently Asked Questions
What was Bharti Airtel's revenue in Q4 FY26?
Bharti Airtel reported revenue of ₹55,400 Cr in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did Bharti Airtel management give for FY27?
Capex to remain in ballpark of FY26 levels: Management expects India capex (ex-passive) to be around ₹31,000 crore for FY27, similar to FY26, with focus on fiber, edge data centers, and homes. Progressive dividend policy: Dividend increased 50% to ₹24 per share for FY26; management committed to progressive increases. Financial services NBFC launch: Airtel Money received RBI approval to operate as NBFC; commercial launch underway with ₹20,000 crore allocation over 5 years. Data center capacity target: Ambition to build 1 GW data center capacity over the next few years; Nextera raised $1 billion from marquee investors.
What are the key risks for Bharti Airtel in FY27?
Key risks include Handset price increases may slow upgrades — Rising handset and chipset prices could dampen feature phone to smartphone upgrades, impacting ARPU growth.; Unlimited data plans distort pricing architecture — Management acknowledged that unlimited 5G plans cap ARPU and make it difficult to raise prices without competitive response.; Regulatory provision uncertainty — A regulatory charge was booked in Q4; management did not provide specifics, raising concerns about potential future liabilities.; Chipset supply constraints for FWA — Rising memory and chipset prices have made FWA more expensive than fiber, potentially slowing home broadband growth..
Did Bharti Airtel meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Bharti Airtel Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.