Altius

What Altius does

Altius Telecom Infrastructure Trust (Altius InvIT) is India's largest telecom tower infrastructure platform and one of the largest globally, operating as an Infrastructure Investment Trust (InvIT) registered with SEBI and listed on BSE (Scrip Code: 543225) since September 2020. The trust owns and operates a portfolio of approximately 257,000+ telecom tower sites across all 22 telecom circles in India — a footprint nearly doubled since 2019 (~136,000 sites) through organic build-out and the January 2024 acquisition of American Tower Corporation's India operations (~76,000 sites) for Rs 18,200 crore, funded in part by a Rs 6,666 crore preferential issue. The trust is controlled by Brookfield Corporation through sponsor entities BIF IV Jarvis India Pte. Ltd. and Project Holdings Nine (DIFC) Limited, with public unitholders holding approximately 41% as of March 2026.

The product portfolio spans macro towers (Ground Based Towers, Monopoles, Lean/Ultra Lean Towers, Rooftop Towers, Camouflage Towers), rapid-deployment units (Cell on Wheels), in-building solutions (IBS) with 50%+ market share across 150+ cities and 10M+ daily touchpoints, small cells and Smart Poles for urban densification, fiberized backhaul, and green power solutions (solar, storage). Tenancy revenue is generated by colocation on shared infrastructure across multiple tenants per tower, supporting technologies from 2G through 5G and preparing for IoT, 6G, and AI/cloud workloads.

The revenue model is overwhelmingly subscription-based: monthly tower rentals (Rs 69,000 per tower, down from Rs 85,000 in 2021-22) and long-term colocation agreements with India's three licensed telecom operators — Reliance Jio, Bharti Airtel, and Vodafone Idea — supplemented by IBS, small cell, and power-and-space services to enterprises and ISPs. FY2025-26 revenue reached Rs 24,165 crore with EBITDA of Rs 9,947 crore; Q4 FY26 alone delivered Rs 6,021 crore in sales. The company is managed by Data Link Investment Manager Private Limited, a Brookfield-owned entity chaired by Arpit Agrawal and led as Group Managing Director by Munish Seth. A Rs 6,000 crore IPO filing and a concurrent $300 million pre-IPO placement at ~$5 billion valuation are in motion as of June 2026, alongside active engagement with regulators on diesel-procurement and energy-policy issues affecting tower operations.

Name

Altius

Legal name

Altius Telecom Infrastructure Trust

Website

https://altiusinfra.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Altius Telecom Infrastructure Trust is India's largest telecom tower InvIT, owning 257,000+ tower sites across 22 telecom circles with ~40% market share, serving Reliance Jio, Bharti Airtel, Vodafone Idea, and IBS/small-cell customers; controlled by Brookfield, it generated Rs 24,165 crore in FY2025-26 revenue.

Ownership category

akta.pro rank

Product category

Telecom Tower Infrastructure

NAICS

All Other Telecommunications (51781)

SIC

Services-Facilities Support Management Services (8744)

akta.pro primary industry

Macro Towers (Ground-Based & Rooftop) (HDAIAKAA)

akta.pro secondary industries

Real Estate, Leasing & Colocation Management (Landlords/REITs) (HDAIAKAJ), Tower Operations & Maintenance (Field Services) (HDAIAKAF), Tower Upgrades & Structural Reinforcement (Height Extensions, Mods, Mounts) (IMAFAIAD)

Keywords

• Telecom tower infrastructure
• Passive network infrastructure
• In-building connectivity
• Small cell deployment
• Tower colocation services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Tower Rental and Colocation Services: Primary revenue from renting tower infrastructure and providing colocation opportunities to telecom operators. Revenue of Rs 24,165 crore for FY2025-26 with EBITDA of Rs 9,947 crore. The trust owns over 2.58 lakh telecom sites generating recurring rental income from multiple tenants per tower.
2. Tower Sales and Acquisitions: Revenue from acquiring tower portfolios from operators like Reliance Jio and American Tower Corporation, then generating rental income from these assets

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Altius owns and operates a portfolio of over 258,000 telecom tower sites across India's 22 telecom circles, renting passive infrastructure (ground-based towers, rooftops, monopoles, camouflage towers, Cell on Wheels, in-building solutions, small cells, smart poles) to mobile operators under multi-tenant, recurring monthly contracts. The company also provides new-build site construction, colocation services, and green power solutions to support 2G to 5G, IoT, and edge AI deployments.

Product overview

Altius Telecom Infrastructure Trust is an Infrastructure Investment Trust (InvIT) managed by Data Link Investment Manager Private Limited (Brookfield-owned), operating as a platform of multiple telecom infrastructure operating entities. The platform includes Crest Digitel Private Limited, Roam Digitel Infrastructure Private Limited, Crest Virtual Network Private Limited, Elevar Digitel Infrastructure Private Limited (formerly ATC Telecom Infrastructure), and Summit Digitel Infrastructure Limited. The product portfolio centers on telecom tower infrastructure with tower solutions (Ground Based Towers, Monopoles, Lean/Ultra Lean Towers, Cell on Wheels, Camouflage Towers), rooftop solutions (Rooftop Towers, Monopoles, Poles), and connectivity solutions (In-Building Solutions, Small Cells, Smart Poles, Power & Space). The platform provides colocation services on 257,000+ telecom towers across India's 22 telecom circles, supporting technologies from 2G to 5G, IoT, and AI at the edge.

Differentiator

Problem solved

Functional benefit

Brands

• Summit Digitel Infrastructure Limited: Telecom tower infrastructure operating entity owning Reliance Jio towers
• Crest Digitel Private Limited
• Elevar Digitel Infrastructure Private Limited
• Roam Digitel Infrastructure Private Limited
• Crest Virtual Network Private Limited

Products and services

• Ground Based Towers (GBT) Macro ground-based telecom tower infrastructure deployed across rural, semi-urban, and urban areas, designed to handle various wind speeds and optimize overall site cost for Mobile, Fixed, and Internet Service Providers.
• Monopoles Low ground footprint telecom tower solutions for urban deployments, aesthetically designed to blend with city environments while supporting mobile operator antenna loads.
• Lean / Ultra Lean Tower Solutions Low-cost rooftop and ground-based non-DG towers with limited loading capacities that support operator urban densification requirements at lower overall capital outlay.
• Cell on Wheels (COWs) Mobile, rapid deployment telecom tower solutions used to expand wireless network coverage at special events, in disaster-affected areas, or where permanent site construction is not permitted.
• Camouflage Towers Telecom towers designed to blend with their surroundings for deployment in sensitive urban or heritage locations where aesthetic integration is required.
• Rooftop Towers Tower infrastructure installed on building rooftops to fill capacity gaps in wireless networks in urban areas where ground space is unavailable.
• Rooftop Monopoles Specially designed monopoles for modern urban buildings, occupying minimum space while maintaining aesthetic appeal for rooftop telecom infrastructure.
• Rooftop Poles Lightweight rooftop poles for smaller antenna loads, deployable on buildings with structural limitations, supporting small cell and IBS backhaul equipment.
• In-Building Solutions (IBS) Passive telecom infrastructure network delivering reliable, secure, and high-quality connectivity throughout in-building environments and outdoor venues including metros, airports, hospitals, and commercial buildings, with 99.99%+ uptime and presence in 150+ cities.
• Small Cell Solutions Outdoor small cell infrastructure helping operators improve network capacity and performance in dense urban areas, covering 150+ Indian cities.
• Smart Poles Street-level telecom infrastructure enabling mobile operators to efficiently scale small cell deployments in crowded urban centers.
• Power & Space Solutions Solutions providing power and space infrastructure for mobile network operators to support their telecom operations, including green power (solar plus storage) and secure equipment space.
• Colocation Services Colocation opportunities on 257,000+ towers across India including all States and Union Territories, enabling operators to share infrastructure and maximize network coverage.
• New Build Services End-to-end project management for establishing communication networks with speed and ease, including organic and inorganic growth capabilities for mobile operators.

Quantifiable outcome

• 99.99%+ uptime for IBS solutions
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• TarantulacoreTechnology or IntegrationAltius has partnered with Tarantula for digital transformation initiatives. Tarantula is helping Altius on its digital transformation journey to enhance operational efficiency and technology capabilities.
• Data Link Investment Manager Private LimitedcoreOthersInvestment manager of Altius Telecom Infrastructure Trust (formerly BIP India Infra Projects Management Services Private Limited). Appointed w.e.f. December 12, 2023. Board includes Arpit Agrawal, Dr. Brijgopal Jaju, Helly Ajmera, Jagdish Kini, Munish Seth, Pooja Aggarwal, Radhika Haribhakti, and Sunil Srivastav.
• Axis Trustee Services LimitedcoreOthersTrustee of the Trust - a wholly-owned subsidiary of Axis Bank Limited. Registered intermediary with SEBI under Debenture Trustees Regulations with registration number IND000000494.
• KFin Technologies LimitedminorOthersRegistrar and Transfer Agent for Altius Telecom Infrastructure Trust units, located at 301, The Centrium, 3rd Floor, 57, Lal Bahadur Shastri Road, Nav Pada, Kurla (West), Mumbai.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Cellnex Telecom: Europe's largest independent tower operator with operations across multiple countries. Comparable as a multi-country tower consolidator executing buy-and-build strategies against incumbent operators.
• IHS Towers: Emerging-markets tower operator with presence across Africa, Latin America, and the Middle East. Comparable as a tower consolidator in high-growth, multi-tenant telecom markets outside of the US/Europe.
• SBA Communications: US-listed tower REIT operating ~40,000+ sites globally. Closely comparable asset-light-to-asset-heavy tower leasing economics and tenant overlap with major MNOs.
• Crown Castle: US-listed tower and fiber infrastructure REIT. Operates a similar multi-tenant tower leasing model at large scale and serves as a global template for the long-duration, contracted-revenue economics Altius's InvIT structure is designed to replicate.
• American Tower Corporation: Global tower REIT that divested its India operations to a Brookfield-led consortium in 2024 for Rs 18,200 crore — those assets now sit inside Altius. ATC remains a directly comparable business-model peer (multi-tenant tower REIT) at global scale.
• Edotco Group: Regional tower operator across South and Southeast Asia (Malaysia, Bangladesh, Pakistan, Cambodia, etc.). Comparable as an Asian emerging-markets tower consolidator, though operating in different geographies than Altius.

Emerging players

• Helios Towers: Africa-focused independent tower operator with a similar model of building and leasing shared infrastructure to multiple MNOs in growth markets. Smaller in scale but structurally analogous.

Direct peers

• Indus Towers: India's #2 telecom tower company with ~180,000+ sites across all 22 circles. Directly competes with Altius for tenancy from the same three anchor telcos (Reliance Jio, Bharti Airtel, Vodafone Idea), making it the closest like-for-like peer in product, customer, and business model.
• Ascend Telecom Infrastructure: Indian independent tower company with operations across multiple Indian telecom circles. Listed alongside Altius in the DIPA industry body, it is a smaller but directly competing domestic peer.

Regional players

• Telesites: Mexican telecom tower operator that emerged from the América Móvil spin-off. Comparable as a regional, multi-tenant tower operator in Latin America — not a direct competitor but a regional peer in business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/altius-telecom-infrastructure-trust
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Altius