The Dharavi Redevelopment Project (DRPPL), spearheaded by the Adani Group, has been renamed Navbharat Mega Developers (NMDPL).
This rebranding, approved by the board of directors and the Ministry of Corporate Affairs, aims to distinguish the private entity from the Maharashtra government’s Dharavi Redevelopment Authority (DRA), the project’s planning body. Despite the name change, the government’s role and the project’s objectives remain unchanged.
The Dharavi Redevelopment Project spans over 600 acres and is executed via a special-purpose vehicle involving an 80 percent stake by the Adani Group and 20 percent by the Maharashtra government. Approx. Rs 2,000 crore has been invested so far, including Rs 1,000 crore for land acquisition and another Rs 1,000 crore for surveys and preliminary work.