Indus Towers
- Market cap
- ₹ 1,00,250 Cr.
- P/E
- 14x
- P/B
- 2.54x
- 52-week range
- 355.55 – 481.5
- ROE
- 19%
- ROCE
- 19%
- Dividend yield
- 3.7%
- Debt / equity
- 0.53
- Sector
- Telecom - Services
- Industry
- Telecom - Infrastructure
- Listed on
- NSE, BSE
About
Indus Towers Limited is an India-based telecommunications (telecom) infrastructure provider. The Company deploys, owns, and manages telecom towers and communication structures. Its offerings include tower, power, space; smart cities; tower operations centers (TOC), and green technology. It deploys the passive physical infrastructure necessary to house the active equipment - the base transceiver station, transmission link, and microwave antenna. Its towers range from the traditional lattice type structure, such as the ground-based tower and rooftop tower or pole, to lightweight hybrid poles, monopoles or camouflaged towers that merge with the backdrop. Its towers are powered by either grid-sourced electricity or diesel generators. It acquires the requisite space from residential and commercial property owners for placing its passive infrastructure at various locations. It owns and operates approximately 219,736 towers with 368,588 co-locations.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Telecom - Infrastructure: 10 companies →Indus Towers against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)14 against a typical 13.8: pricier than most peers (1st = cheapest).6th of 10
- Sales growth+4.6% against a typical +14.3% from a year earlier.5th of 8
- Profit growth+0.5% against a typical +28.6% from a year earlier.6th of 7
- Share price, 3 months−0.2% against a typical −12.6%.3rd of 10
- Size₹ 1,00,250.2 Cr. market value against a typical ₹ 2,123.2 Cr. (1st = largest).1st of 10
Latest announcements
Exchange filings and their impact on the company.
- Q2 revenue up modestly YoY with PAT broadly flat, indicating steady but unspectacular growth.
Indus Towers reported Q2 FY27 consolidated revenue of Rs 8,515.6 crore, up 1.5% from last year, and net profit of Rs 1,791.8 crore, down 2.6%. For the first half, revenue was Rs 16,946.7 crore, up 4.3%, with profit of Rs 3,538.6 crore, down about 1%. The company paid a Rs 3,693 crore final dividend for FY26 and continues to flag dependence on a large customer, but expects to recover receivables in the normal course.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Highest safety
Rated AAA by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Withdrawn | Stable | 17 Jul 2026 |
| ICRA | [ICRA]AAA (Stable) | Stable | 27 Nov 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 17 Jul 2026 | Withdrawn | was Crisil AAA | — | CRISIL | ₹ 16,825 Cr. | |
| 27 Nov 2025 | Rating action | [ICRA]AAA (Stable) | — | ICRA | ₹ 19,250 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 27 Oct 2026 | Financial Results | To consider and approve the Audited Financial Results (Standalone & Consolidated) for the second quarter (Q2) and half year ended on September 30, 2026. |
| 27 Jul 2026 | Financial Results | To consider and approve the Audited Financial Results (Standalone & Consolidated) for the first quarter (Q1) ended on June 30, 2026 |
| 30 Apr 2026 | Dividend | Indus Towers Limited has informed the Exchange regarding Notice of Board Meeting to consider recommendation/ declaration of Dividend |
| 2 Feb 2026 | Financial Results | To consider and approve the Audited Financial Results (Standalone & Consolidated) for the third quarter (Q3) ended on December 31, 2025 |
| 27 Oct 2025 | Financial Results | To consider and approve the Audited Financial Results (Standalone & Consolidated) for the second quarter (Q2) and half year ended on September 30, 2025 |
| 30 Jul 2025 | Financial Results | Indus Towers Limited has informed the Exchange regarding Notice of Board Meeting to consider and approve the Audited Financial Results (Standalone & Consolidated) for the first quarter (Q1) ended on June 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7,132 | 7,199 | 7,193 | 7,383 | 7,465 | 7,547 | 7,727 | 8,058 | 8,188 | 8,146 | 8,101 | 8,431 |
| Expenses | 3,711 | 3,615 | 3,122 | 2,879 | 2,602 | 589 | 3,332 | 3,668 | 3,616 | 3,678 | 3,677 | 3,953 |
| Operating Profit | 3,422 | 3,584 | 4,072 | 4,504 | 4,864 | 6,958 | 4,395 | 4,390 | 4,572 | 4,468 | 4,424 | 4,478 |
| OPM % | 48% | 50% | 57% | 61% | 65% | 92% | 57% | 54% | 56% | 55% | 55% | 53% |
| Other Income | 97 | 99 | 108 | 56 | 114 | 84 | 92 | 85 | 83 | 154 | 155 | 121 |
| Interest | 246 | 11 | 127 | 408 | 418 | 255 | 431 | 437 | 376 | 404 | 376 | 358 |
| Depreciation | 1,526 | 1,596 | 1,564 | 1,560 | 1,580 | 1,568 | 1,693 | 1,704 | 1,801 | 1,798 | 1,838 | 1,894 |
| Profit before tax | 1,747 | 2,076 | 2,489 | 2,592 | 2,980 | 5,219 | 2,363 | 2,334 | 2,478 | 2,420 | 2,365 | 2,347 |
| Tax % | 26% | 26% | 26% | 26% | 25% | 23% | 25% | 26% | 26% | 27% | 24% | 26% |
| Net Profit | 1,295 | 1,540 | 1,853 | 1,926 | 2,224 | 4,003 | 1,779 | 1,737 | 1,839 | 1,776 | 1,793 | 1,746 |
| EPS in Rs | 4.8 | 5.72 | 6.88 | 7.15 | 8.43 | 15.17 | 6.74 | 6.58 | 6.97 | 6.73 | 6.8 | 6.62 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 19%
- 5 Years
- 18%
- 3 Years
- 5%
- TTM
- 7%
- 10 Years
- 13%
- 5 Years
- 13%
- 3 Years
- 47%
- TTM
- −27%
- 10 Years
- 1%
- 5 Years
- 11%
- 3 Years
- 32%
- TTM
- —
- 10 Years
- 21%
- 5 Years
- 23%
- 3 Years
- 25%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Indus Towers | ₹ 373.00 | ₹ 1,00,250 Cr. | 14x | 2.5x | 19% | — |
| DLF | ₹ 653.55 | ₹ 1,61,774 Cr. | 39x | 3.6x | 10% | 32% |
| Lodha Developers | ₹ 963.00 | ₹ 1,01,441 Cr. | 33.7x | 5.1x | 15.8% | 20.6% |
| Oberoi Realty | ₹ 1,587.20 | ₹ 57,846 Cr. | 27.3x | 3.8x | — | 41.6% |
| Godrej Properties | ₹ 1,497.90 | ₹ 45,121 Cr. | 166x | 3.3x | 10.2% | 35.9% |
| Rail Vikas Nigam | ₹ 180.10 | ₹ 37,551 Cr. | 53.7x | 4.8x | 9% | 4.3% |
Management
- Prachur Sah
- Chief Executive Officer, Managing Director, Executive Director
- Abhishek Maheshwari
- Chief Financial Officer
- Vikas Poddar
- Chief Financial Officer
- Neeti Wahi
- Chief Digital and Information Technology Officer
- Samridhi Rodhe
- Company Secretary, Compliance Officer
Prices are delayed and for information only. Nothing on this page is investment advice.