Central Park of NCR Gears Up for IPO - Realty Biz to Go Public

NCR-based realty developer Central Park, a part of the Bakshi Group with a presence in infrastructure, hospitality, and automotive industries, is planning to take its real estate vertical public in 2-3 years. A senior executive revealed that the company aims to capitalize on its substantial growth and robust pipeline.

Ambitious Sales Targets and Audit Preparation

Central Park has a launch pipeline valued at approximately ₹10,000 crore for FY25 and is in the process of appointing an audit firm. The company is targeting ₹4,000 crore in sales for FY25, with projections to reach ₹10,000 crore by the time of the listing.

Future Generations and Market Practices

Amarjit Bakshi, Chairman and MD of Central Park, stated that the company follows the practices of a listed firm and, with future generations in mind, aims to list the company. He mentioned that their substantial land bank across Gurugram, which is continually expanding, would enhance the company's valuation.

Major Project Launches and Investments

In the current fiscal year, Central Park plans to launch 7 million sq ft with an investment of ₹2,000 crore. An additional 10 million sq ft is expected to be launched starting FY25.

Bakshi outlined multiple projects lined up in Sohna township, including high rises, shop-cum offices, and villas. Additionally, the company is planning a luxury project on Dwarka Expressway and an uber-luxury Bellavista residences in Sector-48, Gurugram.

Expansion into New Markets

Central Park is also exploring expansion in Goa and Rajasthan, leveraging its land banks. The company recently launched a project in Central Park Flower Valley. Vikram Singh, President of Central Park, reported that Bignonia Towers in Sohna has already recorded sales of ₹500 crore within the first few days of its launch. The project, with a starting price of ₹5 crore, includes 193 exclusive units offering a mix of 3 and 4-bedroom apartments, ranging from 3,805 sq ft to 5,581 sq ft.