Puradchi,
Great question! If you are programming in LabVIEW, you can do this by using the VI called "RT Ping Controllers.vi" located at All Functions>>Real Time VIs>>Real Time Utilities. That will return an array of clusters containing information about any RT targets on your network.
Now, let's say you need to isolate just the IP address- use the "Index Array" function to isolate just the target you want, and then use "Unbundle by name" to unbundle the IP address from the cluster.
I attached a little example for you that does this. I had 2 RT controllers on my subnet, with the CVS being the 2nd. That is why I indexed out index 1 (indices were 0 and 1) and unbundled from there. Hope this helps you out!
Regards
Dan
National Instruments