India's Airtel Nxtra to benefit from proposed tax breaks, CLSA says

ReutersSep 25, 2025 8:08 AM

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Bharti Airtel BRTI.NS's Nxtra to benefit from India's proposal to offer 20-year tax break for data centre developers - CLSA

India's no.2 telco operates data centre business via 76%-owned unit Nxtra

With rising demand for cloud, AI, 5G ramp-up, Nxtra plans to invest 50 billion rupees ($564.16 million) to increase capacity to 400MW from 240MW - CLSA

Notes Nxtra revenue, EBITDA surged nearly 90% in four years; faster growth expected

Says could eventually value Nxtra higher than BRTI's India ops

Reiterates "outperform" rating on BRTI at 2,035 rupees PT

BRTI rated "buy" on avg; median PT 2,112.5 rupees - data compiled by LSEG

BRTI last up 0.6% at 1,943 rupees

($1 = 88.6275 Indian rupees)

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