Page 1

Chartered Accountants Deloitte Haskins & Sells LLP 7th Floor , Building 10 , Tower B , DLF Cyber City Complex , DLF City Phase - II , Gurugram 122 002 , Haryana , India Phone : +91 124 679 2000 Fax : +91 124 679 2012 INDEPENDENT AUDITOR'S REPORT ON AUDIT OF INTERIM CONSOLIDATED FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF INDUS TOWERS LIMITED ( formerly Bharti Infratel Limited ) Opinion We have audited the accompanying Statement of Interim Consolidated Financial Results of Indus Towers Limited ( formerly Bharti Infratel Limited ) ( " the Parent " ) and its subsidiary ( the Parent and its subsidiary together referred to as " the Group " ) for the quarter and half year ended September 30 , 2021 ( " the Statement " ) being submitted by the Parent pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , as amended ( the " Listing Regulations " ) . In our opinion and to the best of our information and according to the explanations given to us , the Interim Consolidated Financial Results : ( i ) ( ii ) ( iii ) includes the results of the following entities : a . Indus Towers Limited ( ITL ) ( Parent ) b . Smartx Services Limited ( 100 % subsidiary of ITL ) c . Indus Towers Employee's Welfare Trust ( formerly Bharti Infratel Employee's Welfare Trust ) is presented in accordance with the requirements of Regulation 33 and Regulation 52 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , as amended ; and gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standard 34 " Interim Financial Reporting " ( " Ind AS 34 ″ ) prescribed under section 133 of the Companies Act 2013 ( the " Act " ) read with relevant rules issued thereunder and other accounting principles generally accepted in India of the consolidated net profit and consolidated total comprehensive income and other financial information of the Group for the quarter and half year ended September 30 , 2021 . Basis for Opinion We conducted our audit in accordance with the Standards on Auditing ( " SA " s ) specified under Section 143 ( 10 ) of the Act . Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the audit of the Interim Consolidated Financial Results section of our report . We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ( " ICAI " ) together with the ethical requirements that are relevant to our audit of the Interim Consolidated Financial Results under the provisions of the Act and the Rules thereunder , and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics . We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion . Haskins Chartered of Accountants Deloitte Tus Sells LLP