Indus Towers INDUSTOWER
Largest listed independent tower company (Bharti Airtel controlling shareholder post Vodafone exit)
Mapped in 1 theme: 5G/6G Telecom Buildout.
Where Indus Towers sits in the supply chain
Indus Towers appears in 1 supply-chain layer in one theme, 5G/6G Telecom Buildout.
5G/6G Telecom Buildout › Telecom Towers & Passive Infrastructure
Direct supplierOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 28,601 | 30,123 | 32,493 |
| Net profit | 6,036 | 9,932 | 7,145 |
Latest-year revenue ₹32,493 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Largest tower portfolio among listed independent players with Bharti Airtel - the financially strongest private telco - as controlling shareholder and anchor tenant, underpinning revenue visibility peers reliant on weaker tenants lack
Risks
- Revenue concentration among a small number of large telco tenants, including financially stressed Vodafone Idea
Common questions
What does Indus Towers do?
Largest listed independent tower company (Bharti Airtel controlling shareholder post Vodafone exit).
Where does Indus Towers sit in the supply chain?
Indus Towers (NSE: INDUSTOWER) is mapped in 1 supply-chain layer: Telecom Towers & Passive Infrastructure (5G/6G Telecom Buildout).
Who are Indus Towers' peers?
In the Telecom Towers & Passive Infrastructure layer of 5G/6G Telecom Buildout: Altius Telecom Infrastructure Trust, Digital Fibre Infrastructure Trust, GTL Infrastructure, Suyog Telematics, Skipper and Salasar Techno Engineering.
What is Indus Towers' market cap and valuation?
As of 30 Oct 2026: market cap ₹1.00L Cr, P/E 14.1x, ROCE 19.5%, ROE 18.6%, dividend yield 3.70%.