Property developer Central Park is in the process of engaging a professional services firm and a merchant banker as part of its strategy to list its real estate business by early 2027, according to Amarjit Bakshi, the chairman and managing director.
“We are pursuing the IPO route not for fundraising but to facilitate a transition to the next generation,” Bakshi stated. “We aim to establish partnerships, emphasizing the importance of compliance. Every shareholder must be regarded as a partner, and a listed company must fulfill its commitments and meet customer expectations.”
Bakshi also mentioned that Central Park is planning a separate IPO for its hospitality sector within the next three to four years, which will include clubs, restaurants, and banquet facilities.
According to Bakshi, Central Park has a project launch pipeline worth ₹11,000 crore, covering five million sq ft over the next year.
The company is part of the Bakshi Group, which operates in infrastructure, hospitality, and automotive sectors.
Central Park’s upcoming projects include a 1.6 million sq ft residential development on the Dwarka Expressway in Gurugram, projected to generate ₹3,200 crore, and a 1.4 million sq ft project on Sohna Road in Sector 48, Gurugram, with a revenue potential of ₹4,500 crore.
“These two projects should help us achieve our targets. Additionally, at our existing project, Flower Valley in Sohna, we have plans for group housing, serviced apartments, floors, and commercial units,” said Bakshi.
The company has also secured 120 acres in Naugon, Rajasthan, along the Delhi–Mumbai Expressway for a wellness-focused farmhouse project, along with another 1,000 acres in Goa.
“Naugon is strategically located near Delhi and Gurugram, and will feature ample open spaces with a strong emphasis on greenery. In Goa, we plan to develop 500 acres while preserving the remaining 500 acres, which is forest land,” Bakshi elaborated.
The company’s two hotels – Le Méridien in Gurugram and Aloft in Aerocity, Delhi – will also be included in the listing.
Central Park recorded pre-sales of ₹1,600 crore in FY25, a significant increase from ₹250 crore in FY24. Key projects encompass Central Park on Golf Course Road, Central Park Resorts on Sohna Road (including Bellavista), Central Park The Room, and the most recent addition, Central Park Flower Valley in Sohna.
