Engro Holdings Limited has taken a 32 in Pakistan’s telecom world. The company now owns 15,012 towers, after adding more than 10,600 towers through the Deodar acquisition. This makes Engro one of the country’s top independent tower operators, helping telecom companies improve coverage and reliability for users.
The deal, completed in June 2025, was funded through a mix of 65% debt and 35% equity. Engro says the expanded network will strengthen its regular income while keeping operations efficient. Currently, its towers host about 1.25-1.3 operators per tower, but the company hopes to increase this to 1.8-1.9, meaning more tenants per tower and better returns.
Looking forward, Engro plans to build around 400-450 new towers each year. Each tower costs roughly Rs 10 million, with an extra Rs 2-2.5 million for solar power. With rising energy costs, solarized towers can help keep networks running smoothly, even off the grid.
The company also expects a super tax of Rs 14 billion, though after refunds and adjustments, the actual impact on cash flow will be around Rs 8-9 billion. Engro reassured that proposed taxation on certain power components is not expected to affect finances.
Apart from adding towers, Engro sold part of its share in Engro Polymer & Chemicals Limited, bringing its stake down from 68.7% to 50.4%, with no more changes planned. The SECMEC Phase III project, expected to start by the end of 2026, could bring in extra income for the company.
