New Delhi, July 8 -- Telecom companies in India are likely to increase tariffs by around 20 per cent in financial year 2026-27 (FY27), according to a report released by ICICI Securities.

The report, which had earlier projected a tariff hike in the second quarter of FY26, now expects the increase to happen in FY27.

"We forecast subs to keep growing at 2 per cent p.a. and have assumed one large tariff hike in FY27E (approx. 20 per cent hike across categories)," the report said.

The report projected that the number of subscribers will continue to grow at 2 per cent annually. It has factored in only one major tariff hike in FY27 across all categories, with no significant changes in tariffs thereafter.

The report also estimated that the in...