Altius InvIT 9M FY26 Revenue Surges 34% to ₹181Bn; EBITDA Jumps 37%

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AuthorAditi Singh|Published at:
Altius InvIT 9M FY26 Revenue Surges 34% to ₹181Bn; EBITDA Jumps 37%
Overview

Altius InvIT, India's largest independent telecom infrastructure platform, has reported a strong performance for the first nine months of FY26. Revenue climbed 34% year-on-year to INR 181 billion, while EBITDA surged 37% to INR 74 billion. The company continues its robust growth trajectory, supported by India's increasing data consumption and 5G rollout, while maintaining a commitment to distributions to unitholders.

Altius InvIT Posts Strong 9M FY26 Performance: Revenue at ₹181Bn, EBITDA ₹74Bn

Revenue from Operations: INR 181 Bn (9M FY26) vs INR 135 Bn (9M FY25).
Reported EBITDA: INR 74 Bn (9M FY26) vs INR 54 Bn (9M FY25).
Reader Takeaway: Strong revenue growth driven by 5G rollout; debt levels remain a key monitor for unitholders.

What just happened (today’s filing)

Altius InvIT, India's largest independent telecom infrastructure platform, announced robust financial results for the nine months ended December 31, 2025 (9M FY26).

Revenue from operations surged by 34% to INR 181 billion, compared to INR 135 billion in the corresponding period last fiscal.

Reported EBITDA also saw significant growth, increasing by 37% to INR 74 billion from INR 54 billion in 9M FY25. Cash EBITDA rose to INR 62 billion.

The Trust also declared a Distribution Per Unit (DPU) of INR 15.6 for FY26, reflecting its commitment to unitholders.

Why this matters

These results underscore Altius InvIT's position to capitalize on India's secular growth trends in mobile data consumption and the ongoing 5G network expansion.

The company's strategy focuses on organic growth through increasing tenancies and expanding into semi-rural and rural areas, alongside opportunistic M&A.

Long-term contracted cash flows, with 56% of tenancies locked in for up to 30 years, provide significant downside protection and revenue visibility.

The backstory (grounded)

Altius InvIT has rapidly scaled its operations through strategic acquisitions. Key milestones include the acquisition of Summit Digitel from Reliance in August 2020, followed by Crest Digitel in March 2022.

Most recently, the acquisition of American Tower Corporation's (ATC) Indian operations, rebranded as Elevar Digitel, was completed in September 2024. This landmark deal consolidated Altius's position as India's largest telecom tower company.

The Trust, formerly known as Data Infrastructure Trust, saw its units listed on the Bombay Stock Exchange in September 2020, marking its debut as a publicly traded infrastructure investment trust.

What changes now

Shareholders can anticipate benefits from the decades-long mobile growth tailwinds in India, driven by a young population and increasing digitalization.

The integrated platform is poised for economies of scale as upcoming rollouts and MNOs add tenancies.

Future opportunistic M&A activities are expected to further enhance the company's scale and value proposition.

Long-term contracted cash flows provide stability, with a substantial portion of tenancies secured for extended durations.

Risks to watch

Forward-looking statements are subject to inherent risks and uncertainties that could cause actual results to differ materially from projections, including general economic conditions and financing availability.

There is no guarantee that future deals, projects, or leasing plans will be executed successfully or that required debt financing or development approvals will be secured.

Actual returns on unrealized investments may vary due to future operating results, market conditions, and legal or contractual restrictions.

Peer comparison

Altius InvIT operates as India's largest independent telecom tower company with over 257,000 towers. This scale places it ahead of its closest listed competitor, Indus Towers Ltd., which manages approximately 229,658 towers as of November 2024.

Indus Towers, with a tenancy ratio of 1.66x, reported revenues of ₹30,122.80 crore for FY25. Altius's current tenancy stands at over 314,000.

The market remains competitive, with both entities vying for infrastructure dominance to support India's rapidly expanding mobile network needs.

Context metrics (time-bound)

  • Altius InvIT's Revenue from Operations stood at INR 181 Bn for 9M FY26, compared to INR 135 Bn for 9M FY25.
  • Reported EBITDA for 9M FY26 was INR 74 Bn, up from INR 54 Bn in 9M FY25.
  • Net Debt to Assets Under Management (AUM) was 47.85% as of December 2025.
  • The Cost of Debt was 8.13% as of December 2025.

What to track next

Monitor the successful integration of acquired assets and the completion of planned upgrades by March 2025.

Track future M&A opportunities and their strategic fit with Altius InvIT's expansion goals.

Observe the company's execution on its rollout plans, particularly in semi-rural and rural areas.

Keep an eye on any shifts in debt levels and financing strategies as the company pursues growth.

Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.