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Indus Towers Share Price: Shares of Indus Towers Limited were soaring as much as 4 per cent high on Tuesday's trading session after the company reported its financial results for the quarter ended September 2025. As of 2:50 pm, the stock of the telecom infrastructure company was trading at Rs 385.20 on BSE, up around 3.73 per cent from the previous close.

The company reported revenue growth of 9.7 per cent to Rs 8,188 crore from Rs 7,465 crore year-on-year (YoY). However, the net profit declined sharply by 17.3 per cent to Rs 1,839 crore from Rs 2,224 crore.

EBITDA also fell 6 per cent to Rs 4,613 crore from Rs 4,907 crore, while the EBITDA margin contracted significantly to 56.3 per cent from 65.7 per cent.

Citi has maintained a 'buy' rating on Indus Towers with a target price of Rs 460, indicating significant upside from the current market price (CMP).

The brokerage noted that the Supreme Court has allowed the government to consider VI’s grievances regarding AGR issues, which could have significant positive implications for VI and, by extension, Indus Towers.

With a large lump-sum AGR payment due from VI to the government in March 2026, Citi expects that any relief is likely to be announced well ahead of the deadline, potentially in the coming weeks or months, providing a favourable catalyst for Indus Towers' stock.

UBS has maintained a 'neutral' rating on Indus Towers with a target price of Rs 425, following broadly in-line Q2FY26 results.

In Q2FY26, Indus Towers added approximately 4,300 towers, up from 2,500 towers added in Q1FY26, in addition to the typical range of 4,000–8,000 towers added in prior quarters (excluding Q4FY25, when towers were acquired from Bharti), in line with expectations, ending the period with a total of 256,100 towers.

The brokerage noted that the overall tenancy ratio declined slightly to 1.62x from 1.63x in the previous quarter and 1.65x a year ago. On the revenue front, the average rental per tower increased 1.3 per cent QoQ to Rs 67,900, while the average rental per tenant rose 1.4 per cent QoQ to Rs 41,700.

CLSA has maintained an 'outperform' rating on Indus Towers with a target price of Rs 520. The company reported revenue of Rs 52.4 billion, up 11 per cent YoY and 3 per cent QoQ, exceeding estimates.

While reported EBITDA was down 6 per cent YoY but up 5 per cent QoQ at Rs 46 billion, adjusted for collections of past overdue payments, EBITDA was up 15 per cent YoY and 3 per cent QoQ, also ahead of expectations.

During the quarter, Indus added 4,505 tenancies, slightly below estimates, though the base was up 10 per cent YoY and 1 per cent QoQ. The board’s dividend reinstatement is awaited, and the balance sheet has net cash of Rs 29.6 billion and lease liabilities at 118 per cent of debt, with stock at 5.5x 27CL EV/EBITDA.

Currently working as a trainee Sub-Editor at Zee Business, Shristi Rani is passionate about storytelling and delivering content that engages diverse audiences across digita