Dharavi Redevelopment Project (DRPPL), the company undertaking the ambitious plan of revamping Dharavi, Asia’s largest slum in Mumbai, has renamed itself as Navbharat Mega Developers (NMDPL). The rebranding exercise has received the affirmation of its board of directors and the ministry of corporate affairs, the company said.
NMDPL is a special purpose vehicle between the government of Maharashtra-through the Dharavi Redevelopment Project (DRP)/Slum Rehabilitation Authority (SRA)-and the Adani Group.
While an Adani Group entity holds 80% stake in the company, the government of Maharashtra controls the balance 20% stake.The change in name does not alter the government’s role in the project. The role of the government of Maharashtra remains unchanged and DRP continues to be the supervising authority for the ambitious project. According to the company, the rebranding exercise is not just to change the name DRPPL but also to avoid being mistaken for the government authority in the same space, which is Dharavi Redevelopment Authority (DRP), the special planning authority of the state government dealing with Dharavi’s redevelopment.
In November 2022, Adani Properties, the realty development company owned by Gautam Adani-led Adani Group, had emerged as the highest bidder to bag the rights to undertake the Rs 20,000-crore project covering nearly 600 acres.
