Bharti Airtel Share Price: 30.9% CAGR in 3 Years as the Telecom Major Compares With Indus Towers and Tata Communications
- November 13, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Bharti Airtel Share Price: 30.9% CAGR in 3 Years as the Telecom Major Compares With Indus Towers and Tata Communications
Bharti Airtel previous close Rs 2,096. 3-year CAGR 30.9%. Up 2.2x since 10 Nov 2023. ROE 19.62%. Market cap Rs 13,05,746 crore.
Quick Answer
The Bharti Airtel share price closed at Rs 2,096 on 12 November 2026, a compounded annual return of 30.9% over three years. That compares with Indus Towers at 28.3% and Tata Communications at 0.7%. The company has a market cap of Rs 13,05,746 crore and a P/E of 33.94 against an industry P/E of 39.66.
The Bharti Airtel share price has more than doubled in three years, and the stock trades at a P/E below the telecom industry level. Bharti Airtel, based in New Delhi, is one of the largest mobile operators in India and also sells broadband, enterprise services and digital products.
This article compares that run with Indus Towers and Tata Communications. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.
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How Much Has the Bharti Airtel Share Price Returned in 3 Years?
The Bharti Airtel stock closed at Rs 935.50 on 10 November 2023 and at Rs 2,096.00 on 12 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.24 lakh, which is a CAGR of 30.9%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Bharti Airtel can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Bharti Airtel share price has also followed the growth in data use, a steady rise in revenue per user and the spread of its home broadband and enterprise businesses.
Bharti Airtel vs Indus Towers and Tata Communications: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 10 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 12 November 2026.
| Company | Close on 10 Nov 2023 | Previous close (12 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Bharti Airtel | Rs 935.50 | Rs 2,096.00 | 2.2x | 30.9% |
| Indus Towers | Rs 183.40 | Rs 386.95 | 2.1x | 28.3% |
| Tata Communications | Rs 1,708.70 | Rs 1,743.40 | 1.0x | 0.7% |
The Bharti Airtel stock leads the group at 30.9%, followed by Indus Towers at 28.3% and Tata Communications at 0.7%. Bharti Airtel leads the group, followed by Indus Towers and then Tata Communications. Bharti Airtel is by far the largest of the three by market cap.
Look at the Bharti Airtel share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| Bharti Airtel | Rs 13,05,746 crore | 33.94 | 39.66 | 19.62% | 1.26 |
| Indus Towers | Rs 1,02,018 crore | 14.35 | 17.20 | 18.01% | 0.56 |
| Tata Communications | Rs 49,737 crore | 45.67 | 39.66 | 35.61% | 3.93 |
By market cap, Bharti Airtel is the largest of the group at Rs 13,05,746 crore, which gives it the scale advantage over Indus Towers, Tata Communications. On earnings, Bharti Airtel shares trade at a P/E of 33.94 against an industry P/E of 39.66, a discount of about 14% to the sector, which leaves room if earnings keep growing. Peer multiples are Indus Towers at 14.35 and Tata Communications at 45.67.
Return on equity is 19.62% for the Bharti Airtel stock, which ranks second among the three, and debt to equity stands at 1.26. Trailing EPS is Rs 61.64. Telecom companies carry heavy network investments, so the P/E should be read together with return on equity and the debt on the balance sheet.
What Is Driving the Bharti Airtel Stock?
Bharti Airtel earns most of its income from mobile subscribers, and the company has focused on customers who spend more each month. It also sells fibre broadband, television and business services to enterprises.
The company has operations in Africa through a separate listed arm and invests heavily in networks and spectrum, which explains its debt to equity of 1.26. A larger base of premium subscribers has helped its revenue per user.
Followers of the Bharti Airtel share price usually track subscriber growth, revenue per user, data consumption and capital spending on networks.
How the Established Players Stack Up
Indus Towers is a Gurugram-based company that owns mobile towers and leases space on them to telecom operators. It compounded at 28.3% a year, on a market cap of Rs 1,02,018 crore and an ROE of 18.01%.
Tata Communications is a Mumbai-based company that provides data, network and digital infrastructure services to enterprises across the world. It compounded at 0.7% a year, on a market cap of Rs 49,737 crore and an ROE of 35.61%.
What Should Investors Track Next?
Three things are worth watching on the Bharti Airtel share price. First, growth in revenue per user. Second, the pace of broadband and enterprise growth. Third, capital spending on networks and the trend in debt.
At a P/E of 34, the stock trades below the industry P/E of 40, and its ROE is 19.62%. Tariff changes can affect results, so follow quarterly numbers closely.
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How to Compare Telecom Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Bharti Airtel stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Bharti Airtel share price, the same four checks give a more complete picture than price alone.
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The Largest Telecom Name in Its Peer Set at a P/E Below the Industry
The Bharti Airtel share price compounded at 30.9% a year over three years, ahead of Indus Towers at 28.3% and Tata Communications at 0.7%. Its market cap is the largest of the three, and its ROE of 19.62% sits in the middle.
Indus Towers brings the lowest P/E, while Tata Communications brings the highest ROE. The choice depends on whether you prefer an operator, a tower owner or an enterprise network provider.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Bharti Airtel share price today?
Ans. Bharti Airtel closed at Rs 2,096 on 12 November 2026, according to NSE data. It has a market cap of Rs 13,05,746 crore and a P/E of 33.94. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Bharti Airtel stock?
Ans. Bharti Airtel delivered a price CAGR of 30.9% over three years, moving from Rs 935.50 on 10 November 2023 to Rs 2,096.00 on 12 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Bharti Airtel better than Indus Towers?
Ans. Bharti Airtel delivered a higher three-year CAGR at 30.9% than Indus Towers at 28.3%. Bharti Airtel is much larger by market cap at Rs 13,05,746 crore against Rs 1,02,018 crore and has a slightly higher ROE at 19.62% against 18.01%, while Indus Towers trades at a lower P/E of 14.35 against 33.94. The better choice depends on your view of each business.
What does Bharti Airtel do?
Ans. Bharti Airtel is a New Delhi-based telecom company that provides mobile, broadband and enterprise services in India and has a presence in Africa.
Is the Bharti Airtel stock debt free?
Ans. The debt to equity ratio of the Bharti Airtel stock is 1.26 and its return on equity is 19.62%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Bharti Airtel expensive compared with the industry?
Ans. Bharti Airtel trades at a P/E of 33.94 against an industry P/E of 39.66. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which telecom stock gave the highest return in 3 years?
Ans. Among the companies compared here, Bharti Airtel delivered the highest three-year CAGR at 30.9%, followed by Indus Towers at 28.3%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
