On the domestic business, Indus Towers said it has a firm order book providing visibility for the next three to four quarters, driven by a combination of fresh network expansion and movement of tower portfolios from customers.
Danish Khan
July 28, 2026 / 16:44 IST
Indus Towers
- Indus Towers expands to 3 African markets.
- Rollouts begin in September quarter.
- Secured approvals, anchor customer, supplier contracts.
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Indus Towers will begin rolling out telecom infrastructure across three African markets from the September quarter after securing regulatory approvals, an anchor customer and supplier contracts, while maintaining that its domestic order book remains firm for the next three to four quarters despite concerns over Vodafone Idea’s fundraising.
The tower company said it has received regulatory approvals and operating licences in Nigeria, Uganda and Zambia, secured orders from its anchor customer, placed supplier orders and begun onboarding network operations partners. Rollouts are expected to commence next quarter and scale up progressively across the three markets.
“We have secured orders from our anchor customer, placed key supplier orders and initiated partner onboarding. Rollouts are expected to commence in the next quarter and scale progressively across markets,” Chief Executive Officer Prachur Sah said during the company’s post-earnings analyst call.
He said Indus sees an opportunity to build a strong presence in Africa by leveraging its expertise in network operations, cost-efficient infrastructure deployment and service quality.
Management, however, refrained from providing financial guidance for the Africa business, saying commercial discussions, master service agreements and rate cards are still being finalised.
The company said it would begin disclosing tower additions, tenancy and margins once deployments become material. It added that the Africa business is expected to remain largely debt-funded initially and will not affect its dividend distribution policy.
Indus Towers said its partnership with Bharti Airtel would provide strategic advantages beyond India as it expands into Africa. Management said Airtel’s presence in the region gives Indus an anchor tenant from day one, enabling faster scale-up while leveraging the operator’s local market experience.
“From an Africa perspective… from day one, we have an anchor tenant that fundamentally enables us to confidently expand… Secondly, there’s enough leverage in terms of the experience being present in Africa for us to be able to expand,” CFO Vikas Poddar said.
On Airtel’s proposed stake purchase, Poddar added, “It’s a shareholder matter basically. It is absolutely their decision. There’s no condition attached. So it’s very difficult for the management to comment on this.”
On the domestic business, Indus Towers said it has a firm order book providing visibility for the next three to four quarters, driven by a combination of fresh network expansion and the transfer of tower portfolios from customers.
“The order book remains strong for the next three to four quarters,” Sah said, adding that the company continues to capture a significant share of customer deployments.
The company also sought to allay investor concerns over Vodafone Idea’s delayed fundraising, saying current deployment visibility is independent of the operator’s funding situation.
“We have visibility of the order book that is firm for the next three to four quarters… that order book stability is there irrespective of what the funding situation is,” Sah said in response to analyst queries on whether Vodafone Idea’s capital raise could affect rollout plans.
Management acknowledged that execution during the June quarter was briefly affected by supply-chain disruptions arising from the West Asia conflict, which led to shortages of LPG used in tower manufacturing. However, it said suppliers have reconfigured operations and tower supplies are no longer a constraint.
“The supply chain disruptions from a tower supply point of view are behind us,” Sah said, adding that while lithium-ion battery supplies remain affected, they are expected to recover from August and will not impact tower deployments.
The company said geopolitical disruptions had also slowed deployment of lithium-ion battery banks used to replace diesel-powered operations, though it expects execution to accelerate in the coming quarters as supply conditions improve.
Indus Towers added nearly 3,100 macro towers and 4,200 co-locations during the June quarter, while reiterating that customer order bookings remain healthy as telecom operators continue expanding 5G networks and increasing network capacity.
Danish Khan is the editor of Technology and Telecom. He was previously with the Economic Times and has tracked the sector for 15 years.
first published: Jul 28, 2026 04:44 pm
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