Indiabulls to develop plot in Worli, Mumbai

Tapir Realty Developers, a 100 per cent subsidiary of Indiabulls Real Estate (IBREL), has entered into a joint development agreement with Oricon Properties, a subsidiary of Oricon Enterprises, for development of 7,810 sq metres plot located on E-Moses Road at Worli in Mumbai, the company said in a statement filed on the BSE.

IBREL, which has presence in Mumbai, NCR and Chennai, is developing over 10 projects in India with total saleable area of over 30 million sq ft.

The company has reported consolidated net profit of Rs 305.04 crore; while the company’s total income stood at Rs 2,785.84 crore for the financial year ended 2016.