Airtel’s India mobile biz to deliver 15% revenue growth CAGR through FY23-25: Analysts

Kolkata: Bharti Airtel’s India wireless business is estimated to deliver 15% revenue growth, compounded annually over FY23-25, driven by more tariff hikes and continued customer upgrades from 2G to 4G/5G services, analysts said.

They added that the strong wireless revenue growth forecast is likely to boost Airtel’s free cash flow (FCF) generation in the coming quarters.

“We are building in a price increase in early FY24, and coupled with continued 2G to 4G/5G conversions, we forecast Bharti’s wireless revenues to grow at a 15% FY23E-25E CAGR (13% at consolidated level),” Goldman Sachs said in a note.