Central Park, the real estate development subsidiary of Indian conglomerate Bakshi Group, is planning to list its realty business on the stock exchanges within the next 2-3 years. The company aims to launch projects worth INR 10,000 crore in FY25 and expects sales to reach the same figure in time for its IPO. Central Park currently has a vast land bank spread across Gurugram and is in the process of appointing an auditor to transition to a publicly listed structure. To fuel future growth, the developer will launch multiple residential and commercial projects in the upcoming years across Sohna, Dwarka Expressway, and other key markets.
Central Park, the real estate development arm of Indian conglomerate Bakshi Group, plans to take its real estate vertical public within the next 2-3 years, according to a senior executive.
The company has an INR 10,000 crore project pipeline for fiscal year 2025 and is in the process of appointing an audit firm. It targets INR 4,000 crore in sales for FY25 and expects sales to reach INR 10,000 crore by the time of listing.
Amarjit Bakshi, Chairman and Managing Director of Central Park, says they are following listed company practices and want to list the company as the next generation joins. Their substantial land banks across Gurugram is seen as a major factor in boosting valuation.
Central Park plans to launch 7 million square feet this fiscal year with an INR 2,000 crore investment. It has another 10 million square feet planned for launches from FY25 onwards.
The company will launch several high-rise, commercial, and villa projects in its Sohna township. It recently launched a project called Central Park Flower Valley in its Sohna township. It will also develop a luxury project in Dwarka Expressway and an ultra-luxury project called Bellavista Residences in Sector 48, Gurugram.
Its 'Bignonia Towers' project in Sohna has already recorded INR 500 crore in sales within the first few days of launch, with units priced from INR 5 crore. The tower comprises 193 exclusive 3-4 bedroom apartments ranging from 3,805 to 5,581 square feet.
Although based in NCR, Central Park is also looking to expand to Goa and Rajasthan where it owns land banks.
Bakshi Group has established its presence across infrastructure, hospitality, and automotive industries. Its real estate arm, Central Park, also appears well-positioned to achieve its ambitious targets in the run-up to a potential market debut. With strong tailwinds in the real estate sector and large land reserves in premium locations, the company can leverage its scale and execution capabilities to capture demand.
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