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Message Icon Topic: Bharti Infratel and Reliance Tel Infra Valuations Post Reply Post New Topic
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smartcat
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Quote smartcat Replybullet Topic: Bharti Infratel and Reliance Tel Infra Valuations
    Posted: 27/Jun/2007 at 4:47pm

Macquire Research's take on the upcoming demerger of Bharti and RCom's tower businesses.

Bharti Infratel Current Valuation - $8.5 billion

EV per tower - $340,000
CY08E Revenues - $1 billion
CY08E EBIDTA - $450 million
RoE - minus 3.4%
2010E marketshare - 33%

Original 12 month Bharti Airtel target price - Rs. 1,025
New Bharti Airtel target price - Rs. 1,275
 
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Reliance Telecom Infra Current Valuation - $4.5 billion
 
EV per tower - $404,000
CY08E Revenues - $500 million
CY08E EBIDTA -  $200 million
RoE - minus 5.4%
2010E marketshare - 18%

Original 12 month RCom Target Price - Rs. 650
New RCom target price - Rs. 785
 
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