BhartiAirtel

Management Presentation Feb 2016

Disclaimer
The information contained in this presentation is only current as of its date. All actions and statements made herein or otherwise shall be subject to the applicable
laws and regulations as amended from time to time. There is no representation that all information relating to the context has been taken care off in the presentation
and neither we undertake any obligation as to the regular updating of the information as a result of new information, future events or otherwise. We will accept no
liability whatsoever for any loss arising directly or indirectly from the use of, reliance of any information contained in this presentation or for any omission of the
information. The information shall not be distributed or used by any person or entity in any jurisdiction or countries were such distribution or use would be contrary to
the applicable laws or Regulations. It is advised that prior to acting upon this presentation independent consultation / advise may be obtained and necessary due
diligence, investigation etc may be done at your end. You may also contact us directly for any questions or clarifications at our end.
This presentation contain certain statements of future expectations and other forward-looking statements, including those relating to our general business plans and
strategy, our future financial condition and growth prospects, and future developments in our industry and our competitive and regulatory environment. In addition to
statements which are forward looking by reason of context, the words may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential or
continue and similar expressions identify forward looking statements.
Actual results, performances or events may differ materially from these forward-looking statements including the plans, objectives, expectations, estimates and
intentions expressed in forward looking statements due to a number of factors, including without limitation future changes or developments in our business, our
competitive environment, telecommunications technology and application, and political, economic, legal and social conditions in India. It is cautioned that the
foregoing list is not exhaustive
The information contained herein does not constitute an offer of securities for sale in the United States. Securities may not be sold in the United States absent
registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities to be made in the United States
will be made by means of a prospectus and will contain detailed information about the Company and its management, as well as financial statements. No money,
securities or other consideration is being solicited, and, if sent in response to the information contained herein, will not be accepted.
Certain numbers in this presentation have been rounded off for ease of representation

Investor Relations :- http://www.airtel.in

For any queries, write to: ir@bharti.in

2
Agenda
Introduction to Bharti Airtel

Industry Themes

Bharti Airtel: Growth Opportunities

Key Performance Indicators

Other Businesses

Financial Overview

Leadership

3
BHARTI AIRTEL:
WHO WE ARE
Bharti Airtel
2.02 bn
Addressable
Population 4
Present in US$14.8 bn
20 Countries Revenue 3

#1 Operator
In India 1
#2 Operator #3 Operator
In Africa 5 in the World 1

35.2% EBITDA
margins3

Source: TRAI and Informa Telecoms and Media

Notes:
1. As of Mar 31, 2015
2. Based on proportionate equity subscriptions with data from Informa Telecoms and Media. In-country wireless operator refers to single country subscribers
3. TTM Revenue, as on Dec 31 2015
4. Combined population for the regions in which Airtel has a footprint
5. As measured by proportionate equity subscription in a single country, according to 2014 Informa Telecoms and Media 5
Journey Through The Times

Start up (1995 - 2000) Land Grab (2001 - 2010) Multiple Plays (2011 onwards)

1998 2004 2008 2010 2010 2011 2012 2013 2014 2015

Pan India
#3 data
Pan India Launch Acquired First operator operator
First Launch of
footprint; direct to Zain; New 3G operator in the with 4G
launched Airtel
Indias home Present in brand services to launch world - across
in Delhi Money in
largest services over 20 launch launched 4G in Crossed 334 towns
and HP India
telco (DTH) countries India 300 million and 3G in
customers 21 of 22
circles

300
million
customers

Source: Company Filings

6
Global Services Portfolio
Mobile Services across 20 countries Airtel Business (Large enterprises and carriers)
Over 225,000 Rkms1 across 50 countries, 5 continents
336 mn1 wireless subscribers globally
Over 1.35 trillion minutes of calls (TTM)
Over 448 petabytes of data over the last year
Over 178,000 base station sites 350 million customers
Telemedia Services (Fixed Line & Broadband) TTM Revenue: $14.8 bn3
3.6 mn1 broadband & internet customers Telemedia,5% DigitalTV,3%
Airtel
Services provided across 87 cities Business,
7%
TowerInfra,5%
Tower Infrastructure Services
IndiaWireless,
Bharti Infratel 38,206 towers1 across 11 circles 53%
42% stake in Indus Tower which has 118,687 towers1 Africa,25%
across 15 circles
Current market cap: US$12.3 bn2

SA,2%
Digital TV Uniquely positioned with strong asset base
Pan India DTH, 11.1 mn1 subscribers top 3 player Five key businesses creating an end-to-end
Coverage across 639 districts1
global telecom company
Source: TRAI and Informa Telecoms and Media
1. Bharti Airtel Quarterly Report for quarter ending Dec 31, 2015
2. Market Cap data as on Dec 31, 2015, closing exchange USD/INR rate = 66.2
3. Revenue pie chart based on pre inter-segment eliminations 7
Scale and Profitability across Diversified Segments
Segment Wise Contribution to EBITDA (9MFY16)
9M FY16
62%
Revenue $11.1 bn

EBITDA $3.9 bn

EBIT $1.9 bn 15%

8% 5% 6% 3%
Capex $2.2 bn
India & SA Africa Tower Infra Airtel Telemedia Digital TV
Interest & Taxes $1.0 bn Wireless Wireless business

Segment Wise EBITDA Margins (3QFY16)

FCF $0.7 bn

47.4% 46.4%
Enterprise Value $33.3 bn
40.6%
33.3%
International Operations contributed 26% of 22.9% 24.3%
9MFY16 revenues
Diversified suite of offerings
with non-wireless segments contributing 22% to
operating profit (9MFY16) India Africa Tower Infra Airtel Telemedia Digital TV
Wireless Wireless* business
Source: Company Filings (NSE, BSE)
Note:
1. Segment wise contribution to EBITDA bar graph based on pre inter-segment eliminations 8
*Africa Wireless EBITDA ex tower divestment impact
WELL POSITIONED
IN KEY GROWTH
MARKETS
Present in Growth Markets
53 million new mobile subscriptions globally

CentralandEasternEurope,5 MiddleEast,1

Growth markets WesternEurope,0.25

contribute over India,12

half of new subs NoarthAmerica,5

- India
- Bangladesh LatinAmerica,1
- Sri Lanka
- 17 in Africa in millions

APAC(exChinaand
India),10
Africa,20

Source: Ericsson, as of June 2015

Note 1: As of Quarter ended Jun 2015, revenue growth on constant currency basis
10
 And Under-Penetrated Geographies
Airtels span: 1
Over 243.3 million customers in India
Over 82.1 million in Africa
Over 10.8 million in South Asia (Sri Lanka and Bangladesh)

Source: Ericsson, as of June 2015

Notes:
1. Company filings, as of Quarter ended Dec 2015 11
India: Industry Consolidation Underway Through
Revenue Shares
8 Operators 14 Operators 10 Operators

Industry consolidation via market share

gains, with top 3 now accounting for
over 71% of the industry revenues

Exits by many operators post Feb 2012

SC verdict (122 licenses cancelled),
many rationalized their footprints

Spectrum auctions fortified

consolidation story

Market share

Industry wide focus on improving operational and financial health

Source: As per companys reported numbers

12
Africa: Then and Now
2010 2015

Invested for
Growth in Africa

13 of 44
Triggers To Bolster Data Uptake
Median Age Projected in 2020 (years) 1 Smartphone penetration, India (million) 2

30.5
27.9

19.4
17.8

World India Africa Nigeria

Source:
1. UN Statistics; Euromonitor
2. Ericsson Mobility Report 2015 14
Major Momentum for Data Growth
Mobile Subscriptions, India (million) 1 Driving 2G to 3G Growth 2

India is expected to have one of the fastest growth rates in the data segment driven by low cost mobile
handsets and new technologies (3G/4G)
Notes:
1. Ericsson Mobility Report 2015
2. Nokia MBiT 2015 15
AIRTEL: GROWTH
OPPORTUNITIES
Investment Highlights

1 Diversified operator with dominant position in marketplace

2 Large residual opportunity with bulk investments in place

3 Growth Strategy: Voice Secularity, Mobile Data and New Services

4 Focus on customer stickiness with increasing postpaid share

5 Focus on generating efficient utilization on operating and capital expenditures

17
 1 The Leading Indian Wireless Operator
24% Wireless Subscriber Market Share1 31.3% Wireless Revenue Market Share2

Others,3.8%
Aircel,5.7%
Customer
Market 24% 19% 17% 11% 8% 8% 6% 7% Tata,6.8%
Share
238
BSNL+MTNL,
189 5.2% Airtel,31.3%
167
RCom,5.5%
111
85 84
61 68

Idea,18.5%
Vodafone,
23.1%
Bharti Airtel Vodafone Idea Reliance Aircel BSNL&MTNL Tata Others
Comm

Airtel has leadership in 18 circles of the total 22 circles (rank 1 or 2) with average
RMS of 35.9% in these circles

Source: TRAI
Notes:
1. As of Oct 31, 2015
2. For quarter ended Sep 30, 2015. Calculated on the basis of Gross Revenue for UASL + Mobile + CMTS licenses 18
1 Multiple Plays, Multiple Opportunities

Telemedia: DTH:
One of four EBIT
customers positive,
on Airtel, generating
DSL ARPU> significant
Rs 1000 OFCF

Tower Co:
Integrated Wireless: Consolidating
the data
20 growth
Telco markets
growth,
sharing
factor>2

Airtel Airtel
Business: Money:
50 countries, Building
5 continents Scale

Source: Company Filings

19
2 India: Investments To Yield Results

Industry Prime
Nominal Wide Largest
leading spectrum to
Value of spectrum optical fiber
revenue2 yield data
liberalized presence: network
yield/MHz at growth:
spectrum at 16.1%3 amongst
2x avg with Virtually Pan
USD 12 spectrum private
same India 3G &
billion1 market share players
cost/MHz 4G

Source:
1. Including Qualcomm licenses, excluding administered spectrum
2. Annualized 9M Revenues for FY15, Utilization based on 2G/3G spectrum
3. Ex 20 MHz BWA spectrum holding in 8 circles 20
 2 India: Strong Spectrum Position

Bharti Airtels Spectrum Position Spectrum Holdings

Spectrum Industry Industry Spectrum Spectrum held Bharti spectrum Spectrum across 900/1800/2100/2300 bands, more or
Band Spectrum ex BSNL/MTNL by Bharti Market Share ex less fungible across technologies
(MHz) (MHz) (MHz) BSNL/MTNL
Hold 553.5 MHz (393.45 MHz paired & 160 MHz
900 439.6 295.2 116.4 39.4% unpaired) spectrum

1800 955.3 877.3 177.1 20.2% During Mar15 auctions, the company spent ~58% of the
overall spend on acquiring growth spectrum
2100 535.0 425.0 100.0 23.5%
Only operator with pan India 3G & 4G footprint - widest
broadband footprint in India
2300 660.0 440.0 80.0 18.2%
Rolled out 3G and 4G services with over 60,000 BTS
of 3G across 21 out of 22 circles and 4G across 300+
cities

Bharti Airtel plans to leverage its existing network and superior

spectrum position for data roll-outs

Source: TRAI, Department of Telecom, Company Filings

21
2 India: Incumbent with Growth Opportunity
Penetration Share

< 60% No 1 Share

60% - 90% No 2 Share
90% + No 3 Share

22
2 Africa: Geographical Opportunity & Performance
Mobile Penetration(%) Number of Countries
< 60% 8
60% - 90% 6
> 90% 3

Market Position Number of Countries

#1 8
#2 6

#3 3

Number of <=2 3 >=4

competitors
No. of countries1 9 6 2

Through organic as well as in-country acquisitions we are #1 or #2 in 14 markets

Source: Company data, CIA World Factbook, World Bank
Note: 1. Only GSMA telecoms considered
23
3 Growth Lever: Voice Secularity

Volume
Growth
Value
Growth

Carries over 1 trillion minutes Significant gap between realized and rack rates
Secular Volume growth Y-o-Y 1 paisa upside adds $200 mn to top line

Significant headroom for value as well as volume upside on a secular basis

24 of 44
3 Growth Lever: Data Across 2G/3G/4G

Converged opportunity across

Indias first 4G network
technologies

Smartphone Network:
Industry first initiatives
Unique alliances with Flipkart
Infinity Plans, Wynk Music and
and Samsung,
Movies
Home delivery of Airtel SIM

Data comes at incrementally higher EBITDA margins as compared to voice

25 of 44
 3 Largest 3G Network In India

3G sites up 85% YoY 1 Expected Population Coverage Growth 2

160,000 60.0%

140,000
50.0%
120,000 41.8% 51.3%
35.8% 40.0%
100,000 33.3%
29.3%
80,000 30.0%

60,000
20.0%
40,000 77,551
62,447
48,825 52,886 10.0%
20,000 41,850

- 0.0%
Q3'15 Q4'15 Q1'16 Q2'16 Q3'16
Total sites less 3G 3G sites % 3G sites

Source:
1. Company filings
2. Ericsson 26
 3 4G Services Launched
Key to tap into the data opportunity
Launched in 334 cities in India on mobiles, mifi, dongles, home wifis

4G launch Africa in the Seychelles, Gabon, Rwanda

Unmatched value Innovative Mega Airtel 4G brand

and seamless alliances campaign
customer experience Airtel Challenge
Unique alliances with
4G at 3G prices Flipkart and
Samsung Demonstrates superior
Infinity plans: offer internet experience
unlimited voice on
mobile along with data Quick transition to
Airtel 4G: SIM
Flexpage: automated
swap/home delivery
platform allows users of Airtel SIM
to track data usage

27
3 Growth Story: Airtel Money, Wynk, Industry First Initiatives
Offered in India and all 17 opcos in Africa
KPI: Africa (Q3FY16)
Airtel Money Sub base of 8.9 million (up 1.4x YoY), transaction Value: c$5
billion (up 81% YoY)

Wynk Music, Carrier agnostic music and video apps with a curated library of
1.8 million songs and over 5000 movies & 20,000 other video
Video content
&Games Wynk Music: 12 million downloads in just 1 year of launch

Makes internet discovery easy for first time users

One Touch 53 million page views within 4 months of launch
Internet Accredited as Best Mobile Service of the Year for customers at
GSMA Global Mobile Awards 2015 at Barcelona

28
 4 Quality Subscriber Acquisitions
India: Churn % Africa: Churn %

3.30%
3.50% 5.90%
3.40% 5.80% 5.80%
2.70%
2.50%
5.50% 5.40%

Dec14 Mar15 Jun15 Sep15 Dec15 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15

Airtel has industry wide lowest churn at 3.4% In Africa, churn decreased from 7% in June 2014 to 5.9%
in Dec 2015
Led to rationalization of Gross Acquisition Costs driving
INR 10bn savings

Source: As per companys reported numbers

29
4 Increasing High Value Customers

205 5.9% 6.0%

200 5.8% 5.9%
Postpaid Myplan for customers and enterprise
195 5.8%
190
5.6%
5.7% Extended Myplan for prepaid customers
185
5.6%
180 Expand company owned retail stores
5.4% 200 5.5%
175 5.4% 193
5.4% Strengthen DTH & Enterprise businesses
170
181
165 176 5.3%
170
160 5.2%
155 5.1%
Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16
Data ARPU Postpaid customers

Postpaid subscriber base inching up, Data ARPU up 18% YoY

30
 5 Focus On Efficient Utilization Of Opex/Capex

,000 85.00%
240,659
78.90%
77.40% 76.20% 80.00%
,000
74.50%
75.00%
,000
238,357 70.00%
236,709 72.20%
,000 65.00% Invested for growth -> yielding results

,000 60.00%
Passive Infrastructure sharing
232,171 55.00%
,000
50.00% Divestment of towers in Africa underway
230,155
,000 43.90% 43.30%
43.00% 43.10% 43.20% 45.00%

,000 40.00%
Dec14 Mar15 Jun15 Sep15 Dec15

TotalRevenues CapexProductivity OpextoTotalRevenues

(INR Mn)

Increasing Operating and Capital expenditure productivity

31
 KEY
PERFORMANCE
INDICATORS
India Performance Indicators
Total Subscribers (mn) Minutes on Network (mn)
9% YoY

12% YoY 243 290,802 290,459

235 282,138
231
226 277,869

217 267,485

Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16

Voice Realization per minute (paisa) Bharti Airtels Data and 3G Base (mn)

21.4 23.9 28.1

37.67 50.0 19.4 60.0%
36.22 16.9 51.2%
34.93 43.2% 46.8%
34.58 33.75 40.0 40% 41.8%
40.0%
30.0

20.0
20.0%
25.3 27.0 28.1 27.1 26.8
10.0

0.0 0.0%
Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16
Source: Company Filings 3G Data subs 2G Data subs 3G subs as % of total data subs
33
India: Significant Upside From Data
Bharti Airtels Non Voice Revenues as a % of
Strong Volume Growth
Mobile Revenues 1
73% YoY

30% 133.9

25% 115.0
102.0
20% 86.6
77.3
15%

10%

5%

0%
Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16
(bn MBs)
Data Revenue Other Non Voice Non Data Revenue

Annualized data revenues have surpassed USD 1.9 billion

Source: Company filings
Note:
1. For Mobile Services India 34
Africa Performance Indicators
Total Subscribers (mn) and Total Minutes (bn) Minutes of Usage per sub

100.0 31.0 32.8 34.6 33.7 35.0 140 141 145 138
30.4 137
30.0
80.0
25.0
60.0 20.0

40.0 78.3 80.8 82.1 15.0

74.6 76.3
10.0
20.0
5.0
0.0 0.0
Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16
Subscribers (m) Total Minutes (bn) Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16

MoU per sub. per month

ARPU (USD) Capex (USDm) and Number of Sites
400 19,712 20,000
18,819 19,146 19,330
350
4.6 18,347
300
18,000
250
200
4.3 4.3 357
4.3 150 284
4.2 16,000
100 184
150 162
50
0 14,000
Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16
ARPU (US$)
Capex (US$m) Number of Sites
Source: Company Filings
35
Africa: Data and Mobile Money Are The Stars
Data Customer Base (000s) Volumes up 112% YoY (Mn MBs)
37% YoY
15,406 112% YoY 20,049
14,292
12,289 13,039 16,483
11,242
13,843
11,256
9,475

Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16

3G sites up 33% YoY 1 Mobile Money: Transactions Value (USD mn)

67% YoY 4,898
18,819 19,146 19,330 19,712
18,347
3,762
3,325
12,262 2,925 2,892
10,722 11,457
9,228 10,011

Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16
Sites of which 3G

36
 OTHER
BUSINESSES
Telemedia Services
9MFY16: 6% YoY revenue growth, 24% YoY
EBITDA growth

Pan-India presence of 90 cities

Operates in the entire broadband continuum -

fixed line voice and high speed broadband
across Homes and Office segments, broadband
(via DSL), IPTV, internet leased line and MPLS
services

Key Performance Indicators

Customer base: 3.6 million
Broadband penetration at 48.1% of customer base
Average ARPU of $16.1 per month for quarter
ended Dec 31, 2015

Leading private operator with market share of 13.43%1

Source: Company Filings
Note 1: As of Aug 2015, TRAI report
38
Airtel Business
Indias leading and most trusted provider of ICT services

9MFY16: 20% YoY revenue growth, 28% YoY EBITDA

growth

Customer base across - enterprises, governments,

carriers and small and medium business.

Diverse portfolio of services - voice, data, video, network

integration, data centers, managed services, enterprise
mobility applications and digital media.

Strategically located submarine cables and satellite

network - global network running across 225,000 Rkms,
covering 50 countries and 5 continents.

Source: Company Filings

Note:
1. Post FY09 this segment was reclassified 39
Digital TV Services
9MFY16: 16% YoY revenue growth, 55% YoY EBITDA growth
First Company in India which provides real integration of all the
three screens viz. television, mobile and computer enabling our
customers to record their favorite TV programs through mobile and
web
Launched Airtel Digital TV service in October 2008 as fifth operator
providing Direct-to-Home (DTH) services in India
Subscriber base of ~11.1 million subscribers
Lowest industry churn of 0.7%
Present across 639 districts
Offer 430 channels including 22 HD channels and 4 interactive services
Also offers High Definition (HD) Set Top Boxes and Digital TV Recorders
with 3D capabilities delivering superior customer experience

Key Performance Indicators (Q3FY16)

Average ARPU of $3.5 per month for quarter ended Dec 31, 2015

40
Tower Infrastructure
9MFY16: 3% YoY revenue growth, 4% YoY
EBITDA growth

Holds a 42% stake in Indus Towers, amongst 2.23

the largest tower companies in the world, 120,000
2.1
2.17 2.00

operating in 15 circles, thereby enabling the

Sharing Factor (x)

100,000 1.80
88,055
Company to provide leading pan-India passive 80,000

Towers
1.60
infrastructure services 60,000
118,687 49,849
1.40
40,000

Sharing factor (Tenancy ratio) of ~2.1x per tower 20,000 38,206 38,206
1.20

0 1.00
Indus Bharti Infratel Bharti Infratel
Bharti Infratel conducted its Initial Public Offering Standalone Consolidated

in December 2012, raising $761m for a 10% Indus Pro-rata share Sharing Factor

stake

Current market capitalization of US$12.3 bn1

Bharti Infratel owns 42% stake in Indus Towers

one of the worlds largest passive infrastructure providers
Source: Company Filings
Note
1 As of Dec 31, 2015
41
FINANCIAL
OVERVIEW
Steadily Improving Financials
Consolidated revenues grew 6.6% YoY1

India
Broad based revenue growth across mobile, DTH, enterprise segments
Revenues up 11.6% YoY on underlying basis
Mobile revenues grew 10.1% YoY
DTH up 19% YoY
Airtel Business grew 19% YoY

Africa
Revenue growth1 4.6% YoY
Airtel Money has 9.5 mn active customers, up 67% YoY, transacting close to $5 bn / quarter

Strong operating leverage

EBITDA margin expansion2 of 150 bps YoY
Net Income up2 17.5% YoY
Notes:
1. Adjusted for reduction in termination rates and Africa tower divestments. 43
2. TTM
Steadily Improving Financials (Consolidated) 1
Total Revenues (US$bn) Cash Flow from Operations (US$bn)

CAGR of 11.5% (INR)

CAGR of 3.6% ($)

4.7

15.1 4.0 4.1 4.0

14.3 14.1 14.2 3.6
13.1

FY11 FY12 FY13 FY14 FY15 FY11 FY12 FY13 FY14 FY15

Source: Company Filings

Note: 44
1. Africa operations consolidated starting from 8th June 2010
Driving increased Profitability
Incremental EBITDA margins at 76% YoY

Scale and Profitability across diversified segments

Among Top 3 in every non-mobile segment (TowerCo, DTH, Telemedia, B2B)
36% of consolidated EBITDA comes from businesses other than India mobility
22% from India non-mobile businesses
15% from International mobility businesses

Robust growth in Indian non-mobility businesses 19% YoY in Airtel Business and
19% in Digital TV

Non wireless segments contribute 24% to operating profit (9M FY16)

Africa showing signs of growth with bulk operating investments already in place
monetization to catalyze transition to FCF neutrality

45
Diversified debt profile; focus on deleveraging
Over last 3 years:

Leverage: Net Debt to EBITDA down from 3x to 2.3x

Average Maturity: Average tenors pushed out from 2 years to 6 years

Diversified debt mix: 100% bank to a mix of bonds, bank, ECA and DoT debt

Currency diversification: 75% USD to a mix of USD (43%), INR (34%), EUR (14%), Rest (8%)

Interest: 100% floating to a balanced mix of fixed and floating

Strategic initiatives undertaken include Airtel QIP, Infratel IPO & further sell down
Deleveraging in Africa via tower sales and divestment of 2 countries to Orange

46
LEADERSHIP
Leadership in Business
Amongst top 100 Estimated brand Number 1 service
Top Treasury
most valuable value of over USD brand in India
Team, Asia; Adam
brands globally 11 bn, 2012 Brand Equitys most
Smith Award,
Study by Millward Published in Financial trusted brands annual
EuroFinance
Brown, May 2012 Times survey, 2013

Bags five awards,

Brand Airtel Nigeria won 3
tele.net Telecom One of top ten industry awards at
Leadership award Operator Awards brands in Africa Nigerian Telecom
in Telecom, 2012 2013 Within 3 years of Awards
Brand Leadership Including most operations there Including telecom
Awards admired telecom brand of the year
operator

Sunil Bharti Mittal, Chairman Rajan Bharti Mittal Akhil Gupta

Honorary Degree awarded by
Newcastle University - 2012
Business Leader for the World
Award from INSEAD in 2011
Indian Business Leaders of the
Year award at the Global India
Business Meeting, 2011
Outstanding Contribution to the
Sector award at the Telecom
Operator Awards 2012
CFO India Hall of Fame by CFO
India, 2011
48
Highest Standards of Corporate Governance
Credit Rating and Information Services of India (CRISIL) has
assigned its Governance and Value Creation rating CRISIL GVC Level
1 to the corporate governance and value creation practices of Bharti
Airtel

Quarterly financials audited on IFRS, IGAAP basis

IG rating from 3 International Rating Agencies

Diversified Board 50% independent directors

SingTel representatives on the Board of the company

One of only 3 listed companies in India to score 100% on a Composite

Disclosure Index (FTI Consulting Inc.)

49
THANK YOU