Hello Ramesh Sringeri,
Thank you for reporting this. It is a bug in the control implementation.
The internally used listbox which is displayed in the window is not respecting the DisplayMemberPath property. To fix this you can edit the control template and to declare a template binding for the DisplayMemberPath property like that:
The other option would be to set the source of the list picker declaratively.
We alredy fixed this internally - if you need the fix before the next release - please let us know and we will provide you with an internal build.
Thank you once again for the feedback! Please let us know if you have any other comments on the controls.
I updated your telerik points.
the Telerik team
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