Sunil Bharti Mittal Eyes Majority Control Comeback at Bharti Airtel

• Sunil Bharti Mittal has said Bharti Telecom should eventually hold over 50% in Bharti Airtel

• The remarks were made during the company’s Q4 FY26 earnings call

• Airtel also reported strong revenue growth but a decline in quarterly profit

Sunil Bharti Mittal has said he wants promoter entity Bharti Telecom to eventually restore a controlling stake in Bharti Airtel, targeting ownership of “51% or just over 50%” over the next decade. The remarks were made during the telecom major’s Q4 FY26 earnings call.

According to Moneycontrol, Mittal said, “If you really ask me, my own wish is that in the next decade, as I come to a point where I hand over the reins to the next generation as shareholders, Bharti Telecom should get back to a controlling shareholding of 51% or just over 50%. So that’s about 10% more to go.”

Mittal said his long-term vision is to consolidate promoter holdings under Bharti Telecom and gradually increase its stake in Airtel. Currently, Bharti Telecom holds 40.47% in the company. Combined promoter holdings—including Bharti Telecom, Indian Continent Investment, Singtel-linked Pastel and others—stand at 48.87%.

He said the aim is to channel holdings from various promoter entities into Bharti Telecom over time, strengthening its position as the principal promoter vehicle. Mittal also noted that stronger cash flows, dividends and potential buybacks from Airtel would support this transition and help increase the stake further.

Singtel Ownership Plan

Mittal also discussed ongoing ownership equalisation with Singapore-based Singtel, which currently holds a direct stake in Airtel. He said the gap between the two sides has narrowed significantly following recent transactions and is expected to reduce further over the next few years.

According to him, Singtel’s divestment plan and reduced gap in holdings would make the path to parity easier. He added that Bharti Telecom aims to progressively increase its stake as Airtel continues to generate strong cash flows and returns to shareholders.

Mittal, whose current tenure as Chairman was set to end on September 30, has been reappointed for another five years, extending his term till September 30, 2031. He founded the Bharti Group in 1976, which has since expanded into several businesses, including telecom, space communications, digital infrastructure and financial services.

Strong Revenue Growth in Q4

Bharti Airtel reported a 34% year-on-year (YoY) decline in consolidated net profit to ₹7,325 crore for Q4 FY26. However, revenue from operations rose 16% to ₹55,383 crore, driven by growth in both India and Africa businesses.

India mobile revenue rose 8% YoY, supported by higher smartphone penetration and customer upgrades. Consolidated EBITDA increased 17% to ₹32,038 crore, with margins improving to 57.8%. Airtel also added 5.8 million smartphone users during the quarter, while average revenue per user (ARPU) stood at ₹257.

Bharti Airtel also announced a final dividend of ₹24 per fully paid-up equity share of face value ₹5 each and ₹6 per partly paid-up equity share where call money remains unpaid.