BHARTIARTL - Bharti Airtel Ltd. Share Price

Q&A Section Summary from Bharti Airtel Earnings Call Transcript (February 6, 2026)

1. Question: "When I look at the wireless business, your revenue growth has fallen to below 10%. What extent would you be okay with this deceleration before considering tariff repair?"

Answer: "We've seen overall market growth in wireless softening. Revenue drivers remain intact, focusing on premiumization and technology upgrades. We need to explore creative avenues to push ARPU and continual experiments occur through A/B testing across regions."

2. Question: "Any update on your Data Center ambitions and the rationale behind calling the remaining rights issue amount?"

Answer: "The rights issue is a procedural call we've made, ensuring long-term value creation. Regarding capex, we're committed to investing in Data Centers, aiming for 1 gigawatt capacity and around 25% market share in the next 3-4 years."

3. Question: "How are you thinking about your repayments for AGR and spectrum dues considering Vodafone Idea's scenario?"

Answer: "We've reached out to the DoT for parity in AGR dues treatment. We await their response before determining our next steps regarding repayments."

4. Question: "Could you share insights on your dividend policy and the probability of a special dividend due to improving cash flows?"

Answer: "We maintain a progressive dividend policy, but the rights issue and our capital allocation decisions will primarily focus on core business investments and adjacencies rather than immediate returns to capital."

5. Question: "What is your strategy regarding pricing differentiation between 4G and 5G services, as well as service prioritization based on spectrum slicing capabilities?"

Answer: "Differentiated pricing is a future consideration; however, we prefer a pricing architecture where customers pay for data rather than classifying the service as 4G or 5G. Advanced capabilities for prioritization will also be explored."

6. Question: "What is the growth trajectory for your B2B segment given the elimination of low-margin businesses?"

Answer: "The B2B sector grows steadily, with connectivity growing at 5-6% and digital solutions at 15-20%. We're focusing on accelerating growth in these digital areas and ensuring the core connectivity outperforms market growth."

7. Question: "Could you clarify on the churn rates for your 5G FWA customers? Are they closer to wireless or wireline levels?"

Answer: "We don't disclose churn rates at that level, but we've observed improvements post-initial FWA deployment. Our aim is to shift FWA customers to fiber while maintaining a low churn rate."

8. Question: "With substantial free cash flow expected, are you running out of investment avenues?"

Answer: "This is indeed a good problem. We have identified Data Centers, Cloud, and Financial Services as primary growth avenues while ensuring investments maintain progression in our core business as well."

9. Question: "What are the FWA penetration opportunities specific to Hexacom?"

Answer: "We project about 30-35% penetration for homes in our market. With our strategy and partnership strength, we're focused on growing this segment, especially in under-penetrated areas."

10. Question: "Are there plans for inorganic growth opportunities within Hexacom or will it primarily occur through Airtel?"

Answer: "Most opportunities will originate from the Airtel side. However, we'd also look at B2B expansions and digital ventures through Nxtra for cloud services across India."

This concise summary encapsulates the major questions and answers shared in the Q&A session of Bharti Airtel's earnings call.