Mumbai, Maharashtra, 31st of October, 2026 : According to brokerage reports by IIFL Capital and DAM Capital, Reliance Jio recorded significantly higher mobile subscriber additions than Bharti Airtel in September 2026, excluding machine-to-machine (M2M) connections.
Reliance Jio recorded a net addition of about 19 lakh mobile subscribers in September, significantly ahead of Airtel’s approximately 2 lakh additions. Vodafone Idea continued to lose subscribers, with a decline of nearly 3 lakh during the month, as per brokerage reports based on TRAI data.
September witnessed an increase of nearly 22 lakh in India’s total wireless subscriber base, taking the figure to approximately 115.5 crore, excluding M2M connections. DAM Capital’s analysis highlighted Jio’s significant contribution to this growth, while BSNL and other operators collectively gained around 5 lakh subscribers.
In terms of active subscriber growth, Reliance Jio remained ahead of other telecom operators in September. DAM Capital’s analysis indicated an addition of approximately 13 lakh active users for Jio, compared with a decline of around 2 lakh for Airtel and 3 lakh for Vodafone Idea. The brokerages noted that reported Visitor Location Register (VLR) numbers may include M2M connections, making it difficult to assess the actual number of active individual consumers.
Reliance Jio expanded its home broadband customer base by around 4.2 lakh connections in September, while Bharti Airtel added nearly 1.6 lakh during the same period, according to IIFL Capital. The additions to Jio’s network comprised approximately 1.1 lakh fibre-to-the-home connections, 90,000 5G fixed wireless access connections and 2.2 lakh UBR-based FWA connections.
Reliance Jio continued to expand its lead in India’s broadband market, with its home broadband connections reaching around 3 crore, nearly double Airtel’s subscriber base. IIFL Capital estimated that Jio had approximately 1.51 crore FWA connections at the end of September, giving it a 79 per cent share of the country’s fixed wireless access market.
According to the September 2026 data analysed by IIFL Capital and DAM Capital, Reliance Jio continued to strengthen its subscriber base across multiple service categories, maintaining an edge in new mobile and home broadband connections.
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