BHARTIARTL Q4 FY26 Guidance vs Delivery (BHARTIARTL Management Mirror)

Capex & Network Expansion

Management expects overall consolidated CapEx to remain broadly flat year-over-year, reaffirming the Dec'25 Qtr and Sep'25 Qtr outlook of moderating radio and 5G investments. Sequentially, the focus remains firmly on accelerating transport and fiber infrastructure. The Mar'26 Qtr highlighted a strategic pivot away from Fixed Wireless Access (FWA) back to pure fiber rollouts due to rising hardware and chipset costs, accelerating the transition initially outlined in the Dec'25 Qtr. [Status: Reaffirmed]