Founded in mid 2007, Indiabulls Wholesale Services Limited (IBWSL) is a part of Indiabulls Group, one of the top 25 business houses in India with a combined market capitalization of over US$ 7.5 billion across different businesses. IBWSL has been founded as a subsidiary of Indiabulls Real Estate Limited (IBREL). The company has been formed to take advantage of the massive organised retail opportunity that is available in India, Some key facts about the Indian retail industry:

1. Retail is India’s largest industry, accounting for over 10 per cent of the country’s GDP and around eight per cent of the employment.
2. The market size of Indian retail industry is about US $312 billion to grow to US $ 425 billion by 2010.
3. Organised retailing comprises only 2.8 per cent / US $ 9 billion of the total retailing market.
4. The organised retail sector is expected to grow to a US $ 70 billion market by 2010.

IBWSL managed by highly qualified professionals having years of experience in organised retail and related industries is very well positioned to be the top player in the Indian retail industry, some of the factors that contribute to achieving this goal are:

1. Strong Pan-India presence planned with big box retail stores, cash and carry operations, with hypermarkets and specialty stores to follow.
2. First phase of 5 wholesale cash & carry stores to be launched in early 2008.
3. An investment of Rs. 1,500 crores (US $ 325 million aprox) will fuel the first phase of the retail foray for IBWSL.
4. Partnerships with top International Brands, Retailers and Investors will offer access to world class goods in India.
5. Full fledged destination retailing which includes multiplexes, gaming/ fitness, food court facilities etc.

Audited Financial Results of Piramyd Retail Limited for the year ended 31st March 2008.