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Dharavi Redevelopment Project Pvt Ltd (DRPPL), responsible for the redevelopment of Dharavi, Asia's largest slum in Mumbai, has rebranded as Navbharat Mega Developers Pvt Ltd (NMDPL). The change has been approved by both the company's board of directors and the Ministry of Corporate Affairs. NMDPL is a joint venture between the Government of Maharashtra and the Adani Group. While the Adani Group holds an 80% stake, the Maharashtra government retains a 20% share. The rebranding aims to distinguish the company from the Dharavi Redevelopment Authority (DRP), the state government agency overseeing the project. In November 2022, Adani Properties won the rights to lead the INR 20,000-crore project.
Dharavi Redevelopment Project Pvt Ltd (DRPPL), the company tasked with the monumental redevelopment of Dharavi, the largest slum in Asia located in Mumbai, has undergone a name change to Navbharat Mega Developers Pvt Ltd (NMDPL). The rebranding has been approved by both the board of directors and the Ministry of Corporate Affairs. NMDPL is a special purpose vehicle established in collaboration with the Government of Maharashtra through the Dharavi Redevelopment Project (DRP) / Slum Rehabilitation Authority (SRA) and the Adani Group. Advertisement
While the Adani Group holds an 80% stake in NMDPL, the Government of Maharashtra retains a 20% share. The change in the company's name does not alter the government's involvement in the project, and its role as the supervising authority under the DRP continues as before. The company noted that the rebranding was intended not only to update the name but also to avoid confusion with the Dharavi Redevelopment Authority (DRP), the state government's body responsible for overseeing the redevelopment.
In November 2022, Adani Properties, the real estate development wing of the Adani Group, was selected as the highest bidder to secure the rights for the INR 20,000-crore project, which spans nearly 600 acres in the heart of Mumbai, India's commercial capital.
Adani plans to turn 620 acres of prime land, about three-quarters of the size of New York's Central Park, into a glitzy urban hub. About 1 million people live in rickety shanties with open sewers and shared toilets in the densely populated slums, close to Mumbai's international airport. Eligible residents will be given flats free of up to 350 sq ft free of cost as part of the USD 3 billion redevelopment of Dharavi into a "world-class" district.
The rebranding of DRPPL to Navbharat Mega Developers Pvt Ltd (NMDPL) signals a fresh phase for the ambitious Dharavi redevelopment project, which aims to transform one of Asia's largest slums. Despite the name change, the involvement of both the Maharashtra government and the Adani Group remains unchanged.
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