Airtel ARPU Could Hit Rs 325 by FY29

Bharti Airtel, the second-largest telecom operator in India, has been eyeing to raise its ARPU (average revenue per user) for several years. The telco already has the highest ARPU in the industry compared to Vodafone Idea (Vi) and Reliance Jio. The telecom operator’s ARPU is soaring right now because of the tariff hikes in 2024 and higher data consumption. Airtel is also betting on more and more people to adopt postpaid mobile services, which would also contribute to a higher ARPU. However, the ultimate growth will come after the tariffs move up. Airtel reported its ARPU at Rs 264. Another round of tariff hikes, or even a tariff restructuring will help boost it to more than Rs 300.

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Airtel ARPU Could Reach Rs 277 by the End of FY27

Bharti Airtel’s ARPU is expected to reach Rs 277 by the end of FY27, according to the analysts at HSBC. There are three more quarters left to go in the current financial year, so that is possible even without the tariff hikes. As 5G rolls out in more areas, and data consumption goes up, more users will pay more to consume services. Airtel is also focusing on One Airtel service, which ultimately pushes users to get a postpaid SIM and also get locked into the ecosystem of Airtel services.

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As per HSBC, by the end of FY28, the ARPU of Airtel will reach Rs 310 and ultimately Rs 325 in FY29. The analyst expects that Airtel’s ARPU will grow at 8% CAGR (Compounded Annual Growth Rate). This will also boost the telco’s topline revenues, and with a moderated capex, the EBITDA (earnings before interest, tax, and depreciation) should improve signficantly. The next round of tariff hikes are expected to be implemented before the end of FY27.