Central Park taps advisors for planned 2027 real estate IPO
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Property developer Central Park is in the process of hiring a professional services firm and a merchant banker as part of its plans to list the real estate business by early 2027, said Amarjit Bakshi , chairman and managing director.'We are taking the IPO route not to raise money but to hand it over to the next generation,' said Bakshi. 'We should be ready to bring in partnerships, and compliance is important. Every shareholder should be treated as a partner. A listed company has to honour its commitments and meet the expectations of customers.'He added that Central Park is also planning a separate initial public offering (IPO) for its hospitality vertical in three to four years, comprising clubs, restaurants, and banquets.According to Bakshi, Central Park has a Rs 11,000-crore product launch pipeline spanning five million sq ft over the next 12 months.The company is part of the Bakshi Group , which also has interests in the infrastructure, hospitality, and automotive sectors.Central Park's upcoming developments include a 1.6 million sq ft residential project on Dwarka Expressway in Gurugram, with a revenue potential of Rs 3,200 crore, and a 1.4 million sq ft development on Sohna Road in Sector 48, Gurugram, with a revenue potential of Rs 4,500 crore.'Between these two projects, we should reach close to the guidance. In addition, at our existing project, Flower Valley in Sohna, we have group housing, serviced apartments, floors, and commercial units planned,' Bakshi said.The company has also acquired 120 acres in Naugaon, Rajasthan, on the Delhi–Mumbai Expressway for a wellness-focused farmhouse project, and another 1,000 acres in Goa.'Naugaon is very close to Delhi and Gurugram and will have open spaces with a focus on greenery. In Goa, we will develop 500 acres, while the remaining 500 acres, which is forest land, will be left intact,' Bakshi said.The company's two hotels – Le Méridien in Gurugram and Aloft in Aerocity, Delhi -- will also be part of the listing.Central Park reported pre-sales of Rs 1,600 crore in FY25, up from Rs 250 crore in FY24. Its key projects include Central Park on Golf Course Road, Central Park Resorts on Sohna Road (including Bellavista), Central Park The Room, and the most recent, Central Park Flower Valley in Sohna.
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