Corporate OverviewStatutory Reports FINANCIAL Financial Statements STATEMENTS Limited % 00% % of 129 129 Millions) (` shareholding 100% 71.88% 100% Dividend Proposed Proposed 5 - 100% 0) - 100% 9) - 100% 88) - 100% 312) - 90% 459) - 100% After After (Loss) (Loss) Profit/ Profit/ Taxation Taxation

- (1,906) - 95% for 80 219 - 100% 106 3,681 - 100% 5,340 10,792 1,083 70% Taxation Taxation Provision Provision - 4,520 - 100%

6) - (46) - 100% 49 49 6 3,643 - 100% 45 - 45 - 100% 22) - (922) - 100% 292 292 674 618 - 100% 2,520 2,520 - 2,520 - 100% (Loss) (Loss) Before Before (6,739) 7 (6,746) - 100% Taxation Taxation 9 32,737 5,485 27,252 14,815 71.88% 4,171 (2,118) 1 (2,119) - 100% 97,602 97,602 - (2) - (2) - 100% Investments * Investments Turnover Profit/ - - (362) 20 (382) - 100% 1,824 1,824 99,408 5,408 230 157 73 - 100% Total Total 451,787 451,787 - 4,261 29,832 1,025 28,807 - 100% Liabilities Assets Reserves Reserves Total Share Share Capital Capital 2015 March 31, March Exchange Exchange Rate as of Rate Reporting PeriodReporting End Financial Year XOF Dec’14 to ‘14 Jan December 31, 2014 0.102 532 (4,179) 14,444 18,091 - 9,947 (2,678) 124 (2,802) - 90% CDF Dec’14 to ‘14 Jan December 31, 2014 0.067 7 (20,422) 45,944 66,359 - 20,702 (20,259) 203 (20,462) - 98.50% GBP Mar '15 to Apr '14 31, 2015 March 92.459 31 603 2,465 1,831 - 8,737 408 84 324 - 100% USD Mar '15 to Apr '14 31, 2015 March 62.591 - (177) 941 1,118 - 1,381 54 6 48 - 100% Currency Reporting Reporting of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2015 pursuant to Section 31, 2015 pursuant to the year ended March for and joint ventures of subsidiaries, associates of the financial statement

Brazzavile Republic of Republic Congo Registration Kingdom of America b Democratic b India INR Mar '15 to Apr '14 31, 2015 March 1.000 56,671 (718) 64,837 8,884 - 0 (265) (31) (234) - 100% RDC S.a.r.l.) Name of the Subsidiary Note of Country (formerly known as Wireless Business Services known as Wireless (formerly Limited) Private 26 S.A. Airtel Burkina Faso 27 Bharti Airtel Chad Holdings B.V.28 S.A. Airtel Tchad 29 Bharti Airtel Gabon Holdings B.V.30 Airtel Gabon S.A. b a Netherlands b Burkina faso Netherlands USD XOF i Mar '15 to Apr '14 USD Dec'14 Chad to ‘14 Jan 31, 2015 March Mar '15 to Apr '14 b December 31, 2014 Gabon 31, 2015 March 62.591 0.102 XOF 62.591 256 1 XOF Dec'14 to ‘14 Jan December 31, 2014 1,057 1 Dec’14 to ‘14 Jan 269 17,145 December 31, 2014 0.102 7,730 8,817 15,832 2,799 7,804 0.102 8,547 (3,854) 614 73 13,382 - (167) 14,437 11,449 - 12,822 1, 12,375 - - - - 5 7,955 4,520 - (940) 11,836 - (1,194) 519 (1, 118 (1, 25 Holdings B.V. Bharti Airtel Burkina Faso b Netherlands USD Mar '15 to Apr '14 31, 2015 March 62.591 1 7,589 7,636 46 - - 34 Congo Celtel (RDC) S.A. (formerly Airtel Congo 32 S.A. Airtel Congo i Congo 33 Bharti Airtel RDC Holdings B.V. b Netherlands USD Mar '15 to Apr '14 31, 2015 March 62.591 1 1,492 45,706 44,213 - - (9 67 Bharti Limited Airtel (Hongkong) 8 Ltd Pte Bharti Airtel Holdings (Singapore) Limited Bharti Airtel Lanka (Private) 10 Limited b b Singapore Hongkong b Sri Lanka SGD HKD Mar '15 to Apr '14 LKR Mar '15 to Apr '14 31, 2015 March b, e 31, 2015 March Mar '15 to Apr '14 India 45.560 31, 2015 March 8.072 21,494 0.469 (961) INR 40 14,418 39,119 Mar '15 to Apr '14 (16,566) (341) 18,586 31, 2015 March 7,309 405 9,457 1.000 706 18,938 160,697 222,215 - 42,580 - 249 119,241 (15) 53,88 4 (1 9 BhartiLimited Hexacom b, e India INR Mar '15 to Apr '14 31, 2015 March 1.000 2,500 49,787 81,722 29,435 0 47,003 16,132 31 BhartiHoldings B.V. Airtel Congo b Netherlands USD Mar '15 to Apr '14 31, 2015 March 62.591 1 5,415 9,151 3,735 - - (4 20 Limited Data Nxtra 21 Services Limited Bharti Infratel b India b India INR Mar '15 to Apr '14 INR 31, 2015 March Mar '15 to Apr '14 31, 2015 March 1.000 1.000 1 51 (0) (81) 1 2,947 2,977 0 0 - 2,428 - (28) (0) 50 - (78) (0) - - 1 24 Bharti B.V. i Netherlands USD Mar '15 to Apr '14 31, 2015 March 62.591 30,371 39,741 347,609 277,497 - - 3,6 Sr. Sr. No. 15 Bharti(Mauritius) Limited Airtel International 16 Bharti Kabushiki Kaisha Airtel (Japan) 17 SAS Bharti Airtel (France) 18 b Networks Limited Bangladesh Infratel 19 Mauritius Networks Limited Telesonic b INR Japan b Mar '15 to Apr '14 Bangladesh b 31, 2015 March JPY France BDT b 1.000 India Mar '15 to Apr '14 Mar '15 to Apr '14 97,567 31, 2015 March EUR 31, 2015 March INR 33 Mar '15 to Apr '14 0.521 0.802 97,603 Mar '15 to Apr '14 31, 2015 March 0 31, 2015 March 0 3 67.510 11 1.000 (0) 1 892 29 0 46 (1,099) 18 2,069 234 0 2,276 187 - - 28 - - 6,672 - 142 17 299 (0) 34 1 - 11 16 ( 23 - - 100 11 Limited Bharti Telemedia 12 Airtel Bangladesh Limited13 Ltd Pte (Singapore) Bharti International 14 Services Limited Airtel M Commerce b Singapore b b b India India Bangladesh USD Mar '15 to Apr '14 BDT INR 31, 2015 March INR Mar '15 to Apr '14 Mar '15 to Apr '14 Mar '15 to Apr '14 62.591 31, 2015 March 31, 2015 March 85,961 31, 2015 March 0.802 (11,101) 1.000 36,875 116,684 1.000 (49,855) 4 102 2,900 32,600 (35,495) (2,229) 45,580 19,228 2,058 54,621 1,387 - 11,838 - 1,112 24,759 394 (1,906) 4 Bharti Airtel (UK) Limited 5 Limited Bharit Airtel (Canada) b b, c United Canada CAD Mar '15 to Apr '14 31, 2015 March 49.014 4 (31) 0 27 - - (3) - (3) - 12 Bharti Airtel Services Limited3 Network Limited Bharti Airtel (USA) Limited b India b b States United Mauritius INR Mar '15 to Apr '14 USD 31, 2015 March Mar '15 to Apr '14 31, 2015 March 1.000 62.591 1 3,269 (944) 15,977 2,994 32,794 13,548 3,937 371 - 5,217 5,513 3,787 (92) (4) ( 22 Limited Services Private Airtel Broadband 23 Bharti(Netherlands) B.V. Airtel International i Netherlands USD Mar '15 to Apr '14 31, 2015 March 62.591 147,679 95,716 695,182 Salient features of the Companies Act, 2013 of the Companies

Consolidated Financial Statements | Statement Pursuant to Section 129 of the Companies Act, 2013 273 Digital for all 00% % of 129 129 Millions) (` shareholding 100% 100% Dividend Proposed Proposed - - 100% - - 100% 59 59 - 100% 788 788 - 90% 200 - 100% After After (Loss) (Loss) Profit/ Profit/ Taxation Taxation

62 - 100% - - 100% - (1,029) - 100% - (1,252) - 100% - 68 - 100% - (8,377) - 75% 34 574 - 96.36% for Taxation Taxation Provision Provision - 2,178 - 100% - - - - 100% 7) 1,074 (5,291) - 60% (1) - (1) - 100% 72) - (4,272) - 100% 98) 2,503 (10,401) - 79.059% 128 128 - 128 - 100% 891 891 - 5,891 - 100% 323 323 49 274 - 100% (60) - (60) - 100% (Loss) (Loss) Before Before (1,089) - (1,089) - 100% Taxation Taxation (662) - (662) - 100% (179) - (179) - 100% - - - - - 100% 58 (4,502) 304 (4,806) - 100% Investments * Investments Turnover Profit/ ------100% Total Total Liabilities Assets Reserves Reserves Total Share Share Capital Capital 2015 March 31, March Exchange Exchange Rate as of Rate Reporting PeriodReporting End Financial Year Currency Reporting Reporting of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2015 pursuant to Section 31, 2015 pursuant to the year ended March for and joint ventures of subsidiaries, associates of the financial statement

Registration b Mauritius USD Dec’14 to ‘14 Jan December 31, 2014 62.591 1 38 40 1 - - (2) - (2) - 100% b Mauritius USD Dec’14 to ‘14 Jan December 31, 2014 62.591 3 177 8,972 8,792 - - (13) - (13) - 100%

Name of the Subsidiary Note of Country Mauritius Limited Zebrano (Mauritius) Limited Zebrano 54 Airtel Madagascar S.A. b Madagascar MGA Dec’14 to ‘14 Jan December 31, 2014 0.021 63 (1,204) 8,999 10,140 - 4,624 321 259 Sr. Sr. No. 40 Limited Airtel Malawi 41 Bharti Airtel Niger Holdings B.V.42 Niger S.A. Celtel b Netherlands i Malawi USD Mar '15 to Apr '14 b MWK Niger 31, 2015 March Dec’14 to ‘14 Jan 62.591 December 31, 2014 XOF 0.143 1 Dec’14 to ‘14 Jan December 31, 2014 8,572 0 8,617 0.102 833 44 154 6,175 5,206 5,342 28,800 23,440 - - - 7,674 2,178 - 2,314 12,741 827 3,050 1,487 1,262 1, - 35 Bharti Airtel Mali Holdings B.V.36 Holdings B.V. Bharti Airtel Kenya 37 B.V. Bharti Airtel Kenya 38 Limited Airtel Networks Kenya 39 Bharti Holdings B.V. Airtel Malawi b b Netherlands Netherlands USD b, f USD b b Kenya Mar '15 to Apr '14 Netherlands Netherlands Mar '15 to Apr '14 31, 2015 March 31, 2015 March USD USD KES 62.591 Mar '15 to Apr '14 Mar '15 to Apr '14 62.591 Dec’14 to ‘14 Jan 31, 2015 March 31, 2015 March 1 December 31, 2014 1 62.591 62.591 0.678 223 (2,309) 17,104 63,390 622 1 1 (36,480) 65,698 (3,971) 19,205 398 312 59,419 38,581 5,576 63,389 - 5,263 - - - 10,3 ------(1,029) - 68 55 (In liquidation) Bharti Airtel Nigeria Holdings B.V. c, g 57 Netherlands Bharti Airtel Nigeria Holdings II B.V.58 Bharti Airtel Nigeria B.V.59 USD Bharti Airtel Ghana Holdings B.V.60 Mar '15 to Apr '14 Airtel Ghana Limited b 31, 2015 March Netherlands 62.591 b USD b Netherlands Mar '15 to Apr '14 - Netherlands USD 31, 2015 March USD i, f - Mar '15 to Apr '14 Ghana 62.591 Mar '15 to Apr '14 31, 2015 March - 31, 2015 March 1 GHS 62.591 62.591 (113) Dec’14 to ‘14 Jan 1 112,418 December 31, 2014 1 112,530 (4,363) (29,530) 16.537 41,191 84,496 2,651 45,553 114,025 (24,061) - 12,313 33,723 - - - - (4,2 - 8,295 (8,377) 56 (In liquidation) Nigeria Limited MSI-Celtel c Nigeria NGN Dec’14 to ‘14 Jan December 31, 2014 0.314 ------52 (formerly Bharti Holdings Limited Airtel Rwanda 43 Holdings BV Leone Bharti Airtel Sierra 44 Airtel (SL) Limited45 Plc Airtel Networks Zambia b Netherlands USD Mar '15 to Apr '14 b i Zambia 31, 2015 March Leone Sierra 62.591 ZMW SLL Dec’14 to ‘14 Jan 1 Dec’14 to ‘14 Jan December 31, 2014 December 31, 2014 39 8.261 0.014 5,571 115 5,531 9 (437) 2,564 19,737 6,941 17,164 - 7,263 - - - 13,281 6,169 1,008 408 4 149 2 61 Bharti Airtel Services BV62 b Netherlands b Nigeria USD Mar '15 to Apr '14 NGN 31, 2015 March Dec’14 to ‘14 Jan December 31, 2014 62.591 0.314 1 63 309 (1,162) 356 114,701 115,800 46 - 75,131 - (7,8 - 13 - 13 - 1 53 Montana International b Mauritius USD Dec’14 to ‘14 Jan December 31, 2014 62.591 0 (9) 3 12 - - 46 Bharti Holdings B.V.47 Airtel Uganda Limited b Netherlands USD i, f Mar '15 to Apr '14 Uganda 31, 2015 March UGS 62.591 Dec’14 to ‘14 Jan 1 December 31, 2014 (4,983) 0.021 19,391 24,373 265 (4,949) 14,079 18,763 - - - 14,656 (1,252) 63 Bharti Holdings B.V. Airtel Zambia 64 Limited Commerce Airtel Mobile b Netherlands b Malawi USD Mar '15 to Apr '14 MWK 31, 2015 March Dec’14 to ‘14 Jan 62.591 December 31, 2014 0.143 1 26,434 0 26,521 86 0 0 - - - 5, - - 184 - 184 - 48 B.V. Bharti 49 Limited Airtel Tanzania 50 Bharti Airtel Madagascar Holdings B.V.51 Channel Sea Management Company b b Netherlands Netherlands i USD USD Tanzania Mar '15 to Apr '14 Mar '15 to Apr '14 31, 2015 March TZS 31, 2015 March 62.591 Dec’14 to ‘14 Jan 62.591 December 31, 2014 1 1 0.034 (4,646) (671) 1,376 16,638 12,402 (10,593) 13,072 21,283 23,939 33,156 - - - - 17,222 - (4,21 200 - 65 Limited (Kenya) Commerce Airtel Mobile 66 (Ghana) Limited Commerce Airtel Mobile a b Kenya Ghana KES GHS Dec’14 to ‘14 Jan Dec’14 to ‘14 Jan December 31, 2014 December 31, 2014 0.678 16.537 0 1 - - 386 224 386 223 ------67 (Mauritius) Holdings Limited Celtel b Mauritius USD Dec’14 to ‘14 Jan December 31, 2014 62.591 1 1,716 7,898 6,181 - 494 Salient features of the Companies Act, 2013 of the Companies

274 Annual Report 2014-15 Corporate OverviewStatutory Reports FINANCIAL Financial Statements STATEMENTS Bharti Airtel Limited % 0% % of 100% 129 129 .059% Millions) (` shareholding 100% 100% 100% 96.36% - 100% - 100% Dividend Proposed Proposed - 100% - - 100% - - 100% 11 - 100% After After (116) - 100% (Loss) (Loss) Profit/ Profit/ Taxation Taxation

- - 100% - - - 100% for Taxation Taxation Provision Provision (Loss) (Loss) Before Before Taxation Taxation (2) - (2) - 100% - - - - 100% 430 (164) 2 (166) - 100% - - - Investments * Investments Turnover Profit/ ------100% Total Total Liabilities Assets Reserves Reserves Total Share Share Capital Capital 2015 March 31, March Exchange Exchange Rate as of Rate Reporting PeriodReporting End Financial Year XOF Dec’14 to ‘14 Jan December 31, 2014 0.102 1 (35) 1 35 - - 2 - 2 - 90% XOF Dec’14 to ‘14 Jan December 31, 2014 0.102 1 - 102 101 ------100% CDF Dec’14 to ‘14 Jan December 31, 2014 0.067 154 (1,119) 1,023 1,988 - 161 (785) (2) (787) - 100% CDF Jan ‘14 to Dec’14 December 31, 2014 0.067 ------100% Currency Reporting Reporting of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2015 pursuant to Section 31, 2015 pursuant to the year ended March for and joint ventures of subsidiaries, associates of the financial statement

Brazzavile Registration Brazzavile Republic of Republic Congo Republic of Republic Congo b Zambia ZMW Dec’14 to ‘14 Jan December 31, 2014 8.261 17 (421) 252 656 - 60 (143) (0) (143) - 100% c, g Democratic Name of the Subsidiary Note of Country ZMP Limited) liquidation) 87 Limited (SL) Company Airtel Towers 88 S.A. Towers Burkina Faso 89 S.A. Towers Congo i Leone Sierra SLL a Burkina faso Dec’14 to ‘14 Jan i December 31, 2014 XOF Congo Dec’14 to ‘14 Jan 0.014 December 31, 2014 0 0.102 (29) 1 18 (29) 47 1 29 - - - 11 - - 3 - 3 - 100 90 Limited Towers Kenya b Kenya KES Dec’14 to ‘14 Jan December 31, 2014 0.678 357 42 3,129 2,730 - 2,084 (48) 0 (48) - 100% Sr. Sr. No. 91 S.A. Madagascar Towers b Madagascar MGA Dec’14 to ‘14 Jan December 31, 2014 0.021 0 709 4,017 3,308 - 933 61 37 24 - 68 (formerly Limited Zambia Commerce Airtel Mobile 92 S.A. Congo Commerce Mobile i Congo 93 S.A. Niger Towers b Niger XOF Dec’14 to ‘14 Jan December 31, 2014 0.102 1 (28) 1 28 - - 4 - 4 - 90% 70 S.a.r.l. Tchad Commerce Airtel Mobile 71 B.V. Commerce Airtel Mobile 72 Airtel Money S.A. (Gabon)73 Limited Towers Malawi 74 Airtel a Money Niger S.A. Chad b Netherlands XOF i USD Gabon Dec’14 to ‘14 Jan i b December 31, 2014 Mar '15 to Apr '14 Malawi Niger 31, 2015 March XOF 0.102 MWK Dec’14 to ‘14 Jan 62.591 0 XOF Dec’14 December 31, 2014 to ‘14 Jan December 31, 2014 2 Dec’14 to ‘14 Jan 0.102 - December 31, 2014 0.143 17 95 1 0.102 246 1 (260) 95 (464) 1 227 454 2,942 0 713 3,405 - - 512 - 511 - - - - (7) 72 442 - (425) (102) - - - 1 (7) 0 - (425) (102) 0 - - - 0 10 0 - 100% 69 (SL) Limited Commerce Airtel Mobile i Leone Sierra SLL Dec’14 to ‘14 Jan December 31, 2014 0.014 0 - 148 148 - - - 94 Limited Towers Tanzania b Tanzania TZS Dec’14 to ‘14 Jan December 31, 2014 0.034 0 (54) 0 54 - - (16) - (16) - 60% 75 S.A. Cellulaire Malgache de Téléphone Société b Mauritius USD Dec’14 to ‘14 Jan December 31, 2014 62.591 3 143 159 13 - - 95 S.A. Towers Tchad 96 Support Nigeria Limited Towers b Nigeria a Chad NGN Dec’14 to ‘14 Jan XOF December 31, 2014 Dec’14 to ‘14 Jan 0.314 December 31, 2014 3 0.102 (3) 1 38 (96) 38 1 96 - 11 - (1) - (0) (38) (1) 0 (38) - 79 - 100% 76 Holdings B.V. Commerce Airtel Mobile 77 Limited Indian Ocean Telecom b Netherlands USD b Jersey Mar '15 to Apr '14 31, 2015 March USD 62.591 Dec’14 to ‘14 Jan December 31, 2014 2 62.591 (0) 156 2 761 0 922 5 - - - - - (1) - - (1) - 97 Limited Towers Zambian b Zambia ZMW Dec’14 to ‘14 Jan December 31, 2014 8.261 0 (936) 6,547 7,483 - 1,890 (11) (4) (7) - 78 Limited Airtel (Seychelles) 79 Limited (Tanzania) Commerce Airtel Mobile b Tanzania a TZS Seychelles Dec’14 to ‘14 Jan SCR December 31, 2014 Dec’14 to ‘14 Jan 0.034 December 31, 2014 0 4.552 - 5 2,393 173 2,393 2,401 2,223 - 185 - 1,186 (53) (63) 83 (Ghana) Limited Airtel Towers 84 BhartiHoldings B.V. Airtel DTH i b Ghana Netherlands USD GHS Mar '15 to Apr '14 Dec’14 to ‘14 Jan 31, 2015 March December 31, 2014 62.591 16.537 2 1 (7) (33) - 5 5 37 - - - - (1) (2) - - (2) (1) - 75% 80 Uganda Limited Commerce Airtel Mobile 81 Limited Uganda Towers a85 Uganda Services (in liquidation) Airtel(SL) Limited DTH c,g UGS Leone Sierra b Uganda Dec’14 to ‘14 Jan SLL December 31, 2014 Dec’14 to ‘14 Jan UGS 0.021 December 31, 2014 Dec’14 to ‘14 Jan 0.014 0 December 31, 2014 0.021 - - 1,091 0 - 1,091 (502) - 2,562 - 3,064 - - - - 1,480 - (493) - (493) 98 Airtel Money (RDC) S.p.r.l. b Democratic 86 Services (In liquidation) AirtelNigeria Limited DTH c Nigeria NGN Dec’14 to ‘14 Jan December 31, 2014 0.314 - - - - - 82 N.V. Towers Africa i Netherlands USD Mar '15 to Apr '14 31, 2015 March 62.591 4 (54) 24 74 - 163 12 66 (54) - 100% 99 S.A. Burkina Faso Commerce Airtel Mobile b Burkina Faso XOF Dec’14 to ‘14 Jan December 31, 2014 0.102 1 (166) 1,129 1,294 - 100 (In (RDC) S.p.r.l. Services AirtelCongo DTH Salient features of the Companies Act, 2013 of the Companies

Statement Pursuant to Section 129 of the Companies Act, 2013 275 Digital for all % of 129 129 Millions) (` shareholding 100% Dividend Proposed Proposed After After (Loss) (Loss) Profit/ Profit/ Taxation Taxation

(2,391) - 100% - - 100% for Taxation Taxation Provision Provision 45) (27) (118) - 100% (Loss) (Loss) Before Before Taxation Taxation Investments * Investments Turnover Profit/ Total Total Liabilities Assets Reserves Reserves Total Share Share Capital Capital 2015 March 31, March Exchange Exchange Rate as of Rate

FRS financial statements for the respective financial year end. the respective for FRS financial statements they are incorporated incorporated are they Reporting PeriodReporting End Financial Year XOF Dec’14 to ‘14 Jan December 31, 2014 0.102 8,576 (6,652) 1,959 35 - 3,327 264 6 258 - 90% CDF Dec’14 to ‘14 Jan December 31, 2014 0.067 6 644 9,919 9,269 - 4,243 591 26 565 - 100% Currency Reporting Reporting of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2015 pursuant to Section 31, 2015 pursuant to the year ended March for and joint ventures of subsidiaries, associates of the financial statement

Registration Republic of Republic Congo Brazzavile

Name of the Subsidiary Note of Country Sr. Sr. No. 101 S.p.r.l. RDC Towers Congo b Democratic 102 S.A. Gabon Towers b Gabon XOF Dec’14 to ‘14 Jan December 31, 2014 0.102 1 (34) 1 34 - - (33) 0 (33) - 90% 104 Limited Airtel Rwanda b Rwanda RWF Dec’14 to ‘14 Jan December 31, 2014 0.091 - (6,162) 6,444 12,606 - 1,213 (2,391) - 103 Madagascar S.A. Commerce Airtel Mobile a Madagascar MGA Dec’14 to ‘14 Jan December 31, 2014 0.021 0 (251) 441 692 - 98 (1 108 12, 2014) March S.A. (Subsidiary w.e.f. Congo Warid i Congo Subsidiaries yet to commence operations commence operations Subsidiaries yet to 12 Limited Lanka (Private) Bharti Infratel 3 Sprl Investment Partnership 4 Nigeria Limited Company Trust Zap 5 Limited Bharti Forum Airtel Developers 6 Limited (Seychelles) Commerce Airtel Mobile during the year. been liquidated/sold Subsidiaries have Wynk Limited 12 31, 2015) on March (Liquidated Bharti Airtel Acquisition Holdings B.V. 3 on April 4, 2014) (Liquidated Limited Services AirtelTanzania DTH 4 21, 2014) on November (Dissolved Services Limited Bharti Zambia DTH 31, 2015) 5 on March (Liquidated B.V. Bharti Airtel Cameroon 2015) (Sold during March Limited Towers Rwanda 105 Services Limited Towers Africa 106 Limited Rwanda Commerce Airtel Mobile b Rwanda i Kenya RWF KES Dec’14 to ‘14 Jan December 31, 2014 Dec’14 to ‘14 Jan December 31, 2014 0.091 0.678 1 0 - 53 141 (607) 140 (660) - - - 406 - 159 108 - 51 - 107 Uganda Limited h Uganda UGS NA NA 0.021 ------100% Salient features of the Companies Act, 2013 of the Companies f) capital. share preference capital includes Share d) Subsidiaries incorporated during the year. year. the during incorporated Subsidiaries d) e) dividend distribution tax. dividend includes Proposed c) under liquidation. Subsidiaries are b) financial statements. standalone the unaudited from has been extracted Financial information a) financial statements. standalone the audited from has been extracted Financial information h) Subsidiaries are not operational. operational. not are Subsidiaries h) i) I the purpose of consolidated for considered financial information the audited from has been extracted Financial information in subsidiaries investments exclude *Investments April 9, 2015 w.e.f. with the Company owned subsidiary has been amalgamated a wholly Limited, Services Private Airtel Broadband off of rounding result are appearing as Zero which are The figures g) of the countries where laws as per the local be prepared to not required these subsidiaries are for The financial statements Notes: Notes:

276 Annual Report 2014-15 Corporate OverviewStatutory Reports FINANCIAL Financial Statements STATEMENTS Bharti Airtel Limited 129 129 Millions) (` Not Considered Not Considered in consolidation* 31, 2015 Considered Considered in consolidation* Profit/Loss for the year ended March ended March the year for Profit/Loss audited audited Net Worth Net Worth as per latest as per latest shareholders shareholders Balance Sheet attributable to to attributable influence there is significant there Description of how ements of venturer/investor. ements of venturer/investor. Extent of Extent holding % holding shareholding of the Company. of the Company. shareholding Amount of Investment Investment Joint Venture Joint in Associate / in Associate shares by the company on the March 31, 2015 on the March by the company Share of Associates / Joint Ventures held held Ventures / Joint of Associates Share Number of Balance Sheet Date December 31, 2013 102,852,615 - 35% capital % of share (2,950) - - of the financial statement of subsidiaries, associates and joint ventures for the year ended March 31, 2015 pursuant to Section 31, 2015 pursuant to the year ended March for and joint ventures of subsidiaries, associates of the financial statement

Name of the Associate / Joint Venture / Joint Name of the Associate Audited Latest Limited 1 Limited Bharti Teleports 31, 2014 March 11,270,000 113 49% capital % of share (178) - (50) 7 Limited** 31, 2015 March 500,504 60,419 30.19% capital % of share 146,416 6,269 - 3 4, 2014) Feb (w.e.f. Networks Limited FireFly 31, 2015 March 1,000,000 10 50% capital % of share (4) (10) (2) 2 Limited Pte Bridge Mobile 31, 2015 March 800,000 34 10% capital % of share 302 8 - 5 Limited Company Systems Cable Seychelles 30, 2012 June 260 185 26% capital % of share 47 55 - 4 Company Telecommunications Tanzania 6 Limited I Aviation Forum 31, 2014 March 5,308,333 48 16.67% capital % of share 457 10 - Sr. Sr. No. Salient features of the Companies Act, 2013 of the Companies Notes: Notes: been consolidated. have consolidation warranting Ventures / Joint Associates All financial stat in the standalone of investments is based on the carrying value / associate in joint venture Amount of investment * Profit / loss for the year considered / non considered in consolidation is for the year ended March 31, 2015. the year ended March is for in consolidation / non considered the year considered for / loss * Profit as against effective Limited of Bharti Infratel shareholding is based on direct consolidation for considered / losses ** Profits

Statement Pursuant to Section 129 of the Companies Act, 2013 277