"Tapir Realty Developers, a 100 per cent subsidiary of the company, has entered into a joint development agreement with Oricon Properties, a subsidiary of Oricon Enterprises, for development of 7,810 sq metres plot situated at E Moses Road, Worli, Mumbai," Indiabulls Real Estate Ltd (IBREL) said in a BSE filing.
In March, IBREL had raised Rs 435 crore through this route in three tranches.
IBREL has reported consolidated net profit of Rs 305.04 crore for 2015-16, while the company's total income stood at Rs 2,785.84 crore.