Indiabulls Real Estate Limited has informed the Exchange regarding 'Joint Development of a plot at Dr. E. Moses Road, Worli, Mumbai'. We wish to inform you that, Indiabulls Infraestate Ltd (?IIL?), a wholly owned subsidiary of the Company, has today executed a non binding Term Sheet with Oricon Enterprises Limited (?OEL?) for execution of definitive agreements for joint development of a commercial building at OEL's land parcel admeasuring approx. 3512 sq. mtrs. plot situated at Dr. E. Moses Road, Worli, Mumbai ? 400018. Upon execution of the definitive agreements, IIL will get an exclusive ownership rights of approx. 2.55 lac sq ft. leasable area.Please take the above information on record.