Indiabulls Infraestate Ltd. (IIL) has 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. 3,512 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.