Ashoka Buildcon has received a letter of award from Mumbai International Airport Pvt Ltd for developing two land parcels near the airport, the company informed the exchanges. It will use the area to develop commercial or office space in Sahar Village, for an aggregate lease period of 49 years. The company will pay a refundable security deposit of ₹330 crore and an annual lease rental of ₹15.24 crore to the airport with 15 per cent escalation cost every three years. Shares of Ashoka Buildcon slipped 3.12 per cent at ₹204.95 on the NSE.