Annual Report - Bombay Stock Exchange

2016-17

Annual Report

Strengthening the roots of Digital India

Building and Sharing Vital Infrastructure

What's Inside

CORPORATE OVERVIEW

Corporate Information / 01 Corporate Identity / 02 Performance Review / 08 Key Performance Indicators / 09 Message from Chairman / 10 Message from Managing Director & CEO / 12 Board of Directors / 14 Model for Sustainable Business / 18 We co-create long-term value / 20 Smarter India is a promising reality / 24 We cherish shared excellence / 26 Teams make a Difference / 28 Our Recognitions / 32 Driving Inclusive Growth / 34

STATUTORY REPORTS

Business Responsibility Report / 52 Board's Report / 62 Management Discussion & Analysis / 99 Report on Corporate Governance / 107

FINANCIAL STATEMENTS

Consolidated Financial Statements with Auditor's Report / 132 Standalone Financial Statements with Auditor's Report / 213

Glossary / 284

Forward Looking Statement

Some information in this report may contain forward-looking statements. We have based these forward looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are identified by forwardlooking words such as "believe," "plan," "anticipate," "continue," "estimate," "expect," "may," "will" or other similar words.

A forward-looking statement may include a statement of the assumptions or basis underlying the forward-looking statement. We have chosen these assumptions or basis in good faith, and we believe that they are reasonable in all material respects. However, we caution you that forward looking statements and assumed facts or bases almost always vary from actual results, and the differences between the results implied by the forwardlooking statements and assumed facts or bases and actual results can be material, depending on the circumstances. You should also keep in mind that any forward-looking statement made by us in this report or elsewhere speaks only as of the date on which we made it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us. We have no duty to, and do not intend to, update or revise the forward-looking statements in this report after the date hereof. In light of these risks and uncertainties, any forward-looking statement made in this report or elsewhere may or may not occur and has to be understood and read along with this supplemental disclosure.

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Corporate Information

Board of Directors Akhil Gupta Chairman Bharat Sumant Raut D S Rawat Managing Director & CEO Jitender Balakrishnan Leena Srivastava N Kumar Rajan Bharti Mittal R P Singh Sanjay Nayar Tao Yih Arthur Lang

Company Secretary and Compliance Officer Shweta Girotra

Statutory Auditors S.R. Batliboi & Associates LLP Chartered Accountants

Internal Auditors KPMG Price Waterhouse & Co. LLP

Secretarial Auditor Chandrasekaran Associates Company Secretaries

Registered Office Bharti Infratel Limited Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase ? II, New Delhi - 110 070, India

Head Office 901, Park Centra, Sector 30, NH-8, Gurgaon, Haryana - 122 001, India

Corporate Identification Number (CIN) L64201DL2006PLC156038

Website bharti-

Digital India Vision

We at Bharti Infratel are equipped with our best-inclass resources and assets to help make that vision a reality for all citizens of the nation.

2 Bharti Infratel Limited

India's telecom landscape is seeing rapid growth and consolidation with explosion in data consumption across the societal pyramid. The key drivers for this digital revolution are growing smartphone penetration, rich media content and surge in applications, mobile business solutions and Internet of Things (IoT).

This was further augmented with the rapid rollout of 4G services by major telecom operators in the country, enabling millions of people to enjoy a more prolific digital life.

The opportunity landscape around us makes us upbeat about the future. We believe, in the coming years, the infrastructure requirement for telecom operators will increase exponentially to cater to the ever-increasing data demand across India.

Our relationship with all operators, along with execution excellence and management expertise will help us further strengthen our leadership position.

The Government of India's Smart City project will open

new revenue streams for us and we are already contributing to the vision of a smarter nation.

With a strong balance sheet, reliable track record of highest tower uptime and continued focus on innovation, environmental conservation and community development, we are progressing steadily. And as

we move forward, we work 01-43

on strengthening the roots of Digital India.

Annual Report 2016-17 3

Enabling the nation's digital aspirations

At Bharti Infratel, we are equipped to grow our business sustainably and play a critical role in enabling India's mobile communication revolution.

4 Bharti Infratel Limited

We are one of the largest pan-India tower infrastructure providers on a consolidated basis, based on the number of towers owned and operated by Bharti Infratel and Indus, which are represented by Infratel's 42% equity interest.

Our business is to acquire, build, own and operate towers and related infrastructure. We provide access to our towers primarily to wireless telecommunications service providers on a shared basis, under long-term contracts.

We cater to all telecom operators in India. Our three largest customers are Bharti Airtel, Vodafone India, Idea Cellular, which are the three leading wireless telecommunication service providers in India by wireless revenue. We have a nationwide presence with operations in all 22 telecommunication circles in the country, with Bharti Infratel and Indus having operations in four overlapping circles.

01-50 COMPANY OVERVIEW

Enabling the nation's digital aspirations

52-131 STATUTORY REPORTS

132-283 FINANCIAL STATEMENTS

Our Vision

To be the best and most innovative passive communications infrastructure provider, globally known for

Highest uptime Speed and quality of deployment Cost and energy efficiencies Environment friendliness

Business Strategy

Our robust business strategy revolves around three key elements:

Operational Excellence People Excellence Service Excellence

Business Strengths

A leading telecommunications infrastructure operator in India, with large-scale, nationwide operations

Extensive presence in all telecommunications circles with high-growth potential

Long-term contracts with leading wireless telecommunications service providers in India, providing visibility on future revenues

The estimated weighted average remaining life of service contracts, entered with telecommunications service providers, as on March 31, 2017, is 5.99 years (on a consolidated basis)

Comprehensive deployment and operational experience, supported by well-developed processes, systems and IT infrastructure

DNA that Drives Us

Drive for Innovation

Infuse new ideas to address emerging market requirements and future possibilities

Focus on quality and process simplification

Develop People and Partnerships

Establish mutually rewarding internal and external relationships

Develop self and high performance teams

Be transparent and consistent in words and actions

Drive for Results

Make decisions, based on cost impact and execute to add value

Commercial Thinking

Proactive approach to exceed challenging goals and customer expectations

Annual Report 2016-17 5

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