Altius Telecom Infrastructure Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Altius Telecom Infrastructure Trust (formerly Data Infrastructure Trust), backed by Brookfield, filed its March 2025 investor presentation. It is one of India's largest independent tower companies with 256,753 towers/IBS/small cell sites and 313,210 tenancies across 22 telecom circles, holding ~11% tower market share. Recent growth was driven by the September 2024 acquisition of ATC India (rebranded as Elevar Digitel). Adjusted revenue grew to ₹64 Bn in FY25 from ₹36 Bn in FY21, with adjusted EBITDA margins stabilizing at ~72-74% and DPU rising from ₹9 to ₹20 per unit. Management projects revenue scaling to ₹152 Bn by FY29P, supported by tenancy ratio upside (currently 1.22x with 4 operators), a 17-year WALE, and ~60% of revenue locked in via 30-year MSAs. The trust has ₹10 Bn cash, ₹434 Bn total debt at 49.5% net debt/AUM, and has refinanced ₹49 Bn of bank loans with cheaper long-tenor bonds, with ₹61 Bn bank maturities still to be refinanced.
The presentation highlights a clear growth runway through tenancy additions and tower build-out, alongside an active debt refinancing program that should support steady DPU growth. For unitholders, the FY26P-FY29P revenue and EBITDA projections provide visibility, though the trust's high leverage (~49.5% net debt/AUM) and post-acquisition margin compression remain key risks to monitor.