Ashoka Buildcon has informed that the Company has received Letter of Award (LoA) from Mumbai International Airport Pvt. Ltd. (MIAL) and the LoA has been accepted by the Company. The Company will be developing the Land Parcels located at NS-C02 and NS-C03 in CTS No. 145-A (Part) of Village Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial / office space of Potential Built up area of 108,494 sq. Mtrs. (1.17 mn Sq. Ft.) for an aggregate lease period of 49 years. The Company will make payment of Refundable Security Deposit amounting to Rs 329.35 Crore and Annual Lease Rental of Rs 15.24 Crore to MIAL with an escalation of 15% every 3 years.
The above information is a part of company’s filings submitted to BSE.
