Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Bharti Hexacom Q2 FY27 revenue Rs.2,580 Cr +2.9% q-q; EBITDAaL Rs.1,250 Cr margin 48.6% - Mobile base 29 mn; smartphone adds 48k; ARPU Rs.264 including one extra day - Homes, offices net adds 71k; revenue +3.7% q-q; investing in 5G, network modernization - Operating free cash flow Rs.920 Cr; net debt Rs.1,575 Cr - ARPU growth impacted by Northeast weather and tariff intervention; postpaid ARPU up ~Rs.50 - Focus on fiber for home broadband; scaling back FWA; quality customer acquisition prioritized - Data center expansion ongoing; land acquired for 400-500 MW capacity; GPU-as-a-Service under study - Postpaid growth strong with 1.2 mn net adds; large headroom for upgrades - Capex steady for core business; incremental capex for data centers and cloud growth - 5G user base over 200 million; AI traffic currently small but infrastructure being prepared - Pricing architecture correction needed industry-wide to monetize data consumption - Customer experience and AI integration are strategic priorities - Dividend payouts and buybacks to continue; no plans to acquire BT or OneWeb stakes - Seasonality and pricing changes caused churn; early signs of improvement in Q3 - Home broadband EBIT soft due to investment phase and quality correction - Digital portfolio in B2B growing, compensating for core commodity decline - Overall confident in sustained growth and operational excellence