BPTP Ltd is in the process of selecting a merchant banker to facilitate the listing of its real estate division, according to sources familiar with the matter.
This Delhi-NCR-centric firm, boasting a land bank of 45-50 million sq ft, is planning to roll out projects valued at Rs 10,000 crore annually, along with establishing a distinct rental portfolio.
CEO Manik Malik refrained from providing comments on the IPO plans, but mentioned that the company possesses enough land resources to launch projects worth Rs 40,000 crore, with intentions to continue acquiring strategically located land parcels.
“In recent years, we have focused on refining our operations and have performed several mergers throughout this process,” he added.
Colliers India reports that real estate IPOs have raised close to Rs 135 billion in 2024, nearly doubling the amount from the previous year.
Since 2021, the stock markets have seen 21 real estate IPOs, a substantial increase compared to only 11 listings from 2017 to 2020. In the post-pandemic period, 21 real estate firms have collectively garnered Rs 319 billion through IPOs, more than twice the funds raised in that earlier four-year timeframe.
BPTP recorded revenues of Rs 3,000 crore for FY25 and anticipates an increase to Rs 5,500 crore in the current financial year.
“We are achieving a CAGR of 55% and aim to reach Rs 10,000 crore in annual revenue in the future,” stated Malik. “With a project pipeline in Gurugram and Faridabad, we also own land in Noida.”
Earlier this year, BPTP purchased a land parcel in Gurugram for Rs 87.27 crore.
BPTP currently holds around 600 acres across Gurugram and Faridabad and has been actively acquiring land for residential and commercial projects.
Previously, real estate developer Central Park acquired a 10-acre plot from BPTP for Rs 100 crore.
“We are consistently searching for land opportunities. Much of our existing land bank is located along the Dwarka Expressway and in Faridabad, but we are also keen to explore other micro-markets,” Malik expressed.
BPTP plans to invest Rs 6,000 crore in a luxury residential project along the Dwarka Expressway in Gurugram. This endeavor is part of a larger 150-acre development in Sector 102, which is rolling out in three phases.
In recent years, real estate IPOs have not only increased significantly but have also expanded into new categories. Major flex space providers are broadening their portfolios across various cities and accelerating their IPO schedules.
Numerous enterprises, including flex operators, small and medium REITs (SM-REITs), and various developers, are on track to seek regulatory approval for upcoming IPOs.
