Bharti Airtel’s home broadband, data centre, 5G spends may drive up FY27 capex: JP Morgan
NEW DELHI: Bharti Airtel’s ambitious and aggressive expansion plans in home broadband, data centres, and wireless fifth-generation (5G) services may start a fresh capital expenditure (capex) cycle for India’s second-largest telecom operator from fiscal year 2027, and impact its free cash flow (FCF) generation, according to JP Morgan.
Airtel’s capex had a hit a peak in Q1FY24, but has been moderating for the last eight quarters, driven by a reduction in 5G spends. This had led analysts to estimate that the telco’s capex may further moderate in FY26 and FY27, sharply lifting its FCF.
