New Delhi: Sunil Mittal’s Bharti Airtel has overtaken Tata Consultancy Services (TCS) to become India’s third most valuable company by market capitalization as of July 21, 2025.
Airtel’s market value is now between Rs 11.4 lakh crore and Rs 11.5 lakh crore. TCS stands at about Rs 11.2 lakh crore, so Airtel is ahead by more than Rs 2,000 crore. Reliance Industries is still the most valuable Indian company, with HDFC Bank in second place.
Airtel’s share price went up by over 20 percent this year. In the 2024-2025 financial year, Airtel reported revenue of Rs 1.25 lakh crore, which is a 17.9 percent increase. The company’s EBITDA reached Rs 57,909 crore.
Airtel’s mobile business market share is nearing 40 percent. The company gained more than 9.3 million new customers during the past year. Average revenue per user (ARPU) rose to Rs 245, up by Rs 36 over last year. Airtel added over 20,000 new mobile network sites and laid 44,000 kilometres of fiber. Mittal’s annual pay grew slightly to Rs 32.55 crore.
TCS has had a drop in share price, down by 22 percent in 2025. The company lost about Rs 3.4 lakh crore in market value this year. Factors include concerns about the US economy and changes in the IT and software industry as artificial intelligence becomes more common.
The last time Airtel was ahead of TCS was in 2009, but this time the change is expected to last. Three years ago, Airtel was only the tenth most valuable Indian company.
Some analysts expect Airtel to continue seeing growth because the company is investing in its network and expanding its services, including 5G.
