Bharti Airtel Explores AGR Conversion to Equity Ownership

In a strategic move to create a more level-playing field, Bharti Airtel is considering converting approximately Rs 41,000 crore in adjusted gross revenue (AGR) dues into government equity. This action mirrors relief measures granted to Vodafone Idea, according to Gopal Vittal, Airtel's vice-chairman and managing director.

Speaking post-earnings, Vittal emphasized Airtel's drive for clarity regarding such conversions, noting the final decision rests with the board. He stated, "Whether we will convert or not is a decision for the board to take but the option is something that we wanted to make sure."

Vittal unveiled Airtel's broader vision, highlighting reduced investment in mobile networks owing to substantial coverage, but underscoring efforts to enhance the home broadband sector. Despite a five-fold increase in quarterly net profit, including a significant revenue upsurge, Airtel eyes further expansion to increase its market share.

(With inputs from agencies.)