Event Type: Q2 ended September 30, 2026 Earnings Webinar for Bharti Airtel Limited and Bharti Hexacom Limited

Event Date/Time: November 06, 2026 at 12:00 Hrs (IST)

Purpose: Discussion of audited financial results for the second quarter (Q2) and six months ended September 30, 2026

Management Participants:

  • Mr. Gopal Vittal - Executive Vice Chairman, Bharti Airtel Limited
  • Mr. Shashwat Sharma - Managing Director and Chief Executive Officer (Airtel India), Bharti Airtel Limited
  • Mr. Soumen Ray - Group Chief Financial Officer, Bharti Airtel Limited
  • Mr. Akhil Garg - Chief Financial Officer (Airtel India), Bharti Airtel Limited and Director, Bharti Hexacom Limited
  • Mr. Naval Seth - Executive Vice President – Group Investor Relations, Bharti Airtel Limited
  • Mr. Karthikeyan Velu - Group Financial Controller, Bharti Airtel Limited and Chief Financial Officer, Bharti Hexacom Limited

Availability of Materials: The transcript of the call is available on the Company's website at https://www.airtel.in/about-bharti/equity/results

Financial Period Discussed: Q2 FY2027 (Quarter ended September 30, 2026)

Key Financial Highlights Disclosed:

Bharti Airtel Consolidated Performance:

  • Revenue: Rs. 60,900 Crores (4% sequential growth)
  • EBITDAaL: Rs. 31,500 Crores (5.5% sequential growth)
  • EBITDAaL Margin: 51.7%
  • Capex: Rs. 12,500 Crores
  • Operating Free Cash Flow (EBITDAaL minus capex): Over Rs. 19,000 Crores
  • Net debt to EBITDAaL: ~0.70

India Business (excluding passive infra):

  • Revenue growth: 3.2% sequentially
  • EBITDAaL: Over Rs. 20,400 Crores (4% growth)
  • EBITDAaL Margin: 52.7% (0.4% improvement)
  • Capex: Rs. 7,430 Crores
  • Operating Free Cash Flow: ~Rs. 13,000 Crores
  • Additional strategic investment: Rs. 2,900 Crores in land parcel for data center capacity
  • Net debt to EBITDAaL: 0.96

Business Segment Performance:

  • Africa contribution: 30.5% of revenues (constant currency revenue growth of 6.7% sequentially)
  • India mobile: 51% of revenues
  • India non-mobile: 13% of revenues
  • Indus: 6% of revenues

Mobile Business Metrics:

  • Revenue-earning customers added: 0.7 million
  • Smartphone data customers added: 2.9 million
  • Postpaid net additions: 1.2 million (highest ever)
  • Postpaid customer base: 8.3% of total customers
  • ARPU: Rs. 271 (from Rs. 264 previous quarter, benefited by one extra day)
  • 5G user base: More than 200 million

Homes Business:

  • Net additions: 670,000

Digital TV:

  • Customer loss: Over 400,000 (led by DTH business)
  • IPTV adoption remains strong

Airtel Business:

  • Revenue: Rs. 5,800 Crores (3.8% sequential growth, 11.4% YoY)

Digital Portfolio:

  • Revenue growth: ~4% sequentially

New Growth Businesses:

Financial Services:

  • Airtel Finance monthly loan disbursement run rate: ~Rs. 770 Crores
  • Airtel Payments Bank monthly transacting users: Over 125 million
  • Airtel Payments Bank annualized revenue run rate: Over Rs. 3,500 Crores (9% YoY growth)
  • Airtel Payments Bank deposits: Over Rs. 4,400 Crores (10% growth)
  • Airtel Money Africa listed on London Stock Exchange at valuation of ~$7 billion

Data Centers and Cloud:

  • Nxtra delivering strong revenue growth
  • Progressing on 1 gigawatt capacity ambition
  • Strategic land parcel acquired for expansion
  • Airtel Cloud gaining momentum with critical services live

Strategic Priorities Discussed:

1. Winning quality customers through fiber-led homes strategy, mobile premiumization, and B2B expansion

2. Customer experience obsession with network quality improvements and AI-led solutions

3. Digital capabilities building with AI integration across operations

4. War on Waste cost efficiency initiatives

AI Implementation Highlights:

  • Real-time decision engine generated over 10 billion next best actions
  • AI-led anti-spam solution identified over 100 billion calls for spam, nearly 5 billion messages, blocked over 1.7 million fraudulent links
  • AI-enabled RAM orchestrated over 14 million sleep hours daily across network sites in Q2
  • AI tools implemented in financial book closure, recruitment, interview screening, and video KYC

Compliance Statement: The document contains forward-looking statements that must be viewed in conjunction with the risks that the company faces.

Additional Notes Section

The document includes the full transcript of the earnings call webinar held on November 6, 2026. No attachments were mentioned in the disclosure. Financial data was extensively disclosed during the call as reflected in the transcript.