The Delhi-NCR-focused company, which has a land bank of 45-50 million sq ft, is expected to launch projects worth Rs 10,000 crore every year, besides creating a separate rental portfolio, the people said.
Manik Malik, CEO, BPTP declined to comment on the IPO plans. He however said that the company has “enough land bank to launch projects worth Rs 40,000 crore, but we will continue to acquire strategic land parcels in key locations.”
“We have spent the last few years streamlining the company’s operations and have undertaken multiple mergers in the process,” he added.
According to Colliers India, real estate IPOs have raised nearly Rs 135 billion in 2024, nearly doubling from the year before.
Since 2021, the bourses have seen 21 realty IPOs, significantly higher than the 11 listings in the previous four years, during 2017-2020. In the post-pandemic era, 21 real estate companies have collectively raised Rs 319 billion through IPOs — more than double the funds raised in the preceding four-year period (2017-2020).BPTP reported revenue of Rs 3,000 crore in FY25, which it expects to surge to Rs 5,500 crore this financial year.“We are growing at a CAGR of 55% and would like to achieve Rs 10,000 crore in annual revenue going forward,” said Malik. “We have a project pipeline in Gurugram and Faridabad and also own land in Noida.”
Earlier this year, BPTP bought a land parcel in Gurugram for Rs 87.27 crore.
BPTP holds about 600 acres in total in Gurugram and Faridabad. It has also been acquiring land parcels in the region for residential and commercial development.
Earlier, real estate developer Central Park had acquired a 10-acre plot from BPTP for Rs 100 crore.
“We are always on the lookout for land. Most of our existing land bank is concentrated along the Dwarka Expressway and in Faridabad, and we would like to explore other micro-markets as well,” Malik said.
BPTP will invest Rs 6,000 crore in developing a luxury residential project on the Dwarka Expressway in Gurugram. The project is part of BPTP’s 150-acre ecosystem in Sector 102, which is being developed in three phases.
In recent years, real estate IPOs have not only grown in volume but have also diversified into newer categories. Leading flex space operators have also been expanding their portfolios across cities and expediting their IPO plans.
Several enterprises including flex operators, small and medium REITs (SM-REITs), and other developers are also on course to seek regulatory approval for launching IPOs.