Indus Towers (formerly Bharti Infratel) is India’s largest tower company. As of March 31, 2021, Indus Towers has 179.2k tower sites in India with a tenancy ratio of 1.80x. Indeed, this equates to 322.4k tenants with equipment on the company’s towers.
During the quarter ended March 31, 2021, the company added 3.7k towers, the highest rate of tower additions in its history. At the same time, net tenancy additions were 4.1k during the quarter.