Dharavi redevelopment project renamed, Adani Group company said - new name symbolizes development & change

Adani-backed Dharavi Redevelopment Project (DRPPL), which is working on an ambitious plan to transform Dharavi slums, will now be known as Navbharat Mega Developers Private Limited (NMDPL). The company said that it is renaming itself in line with its promise of building a modern, inclusive, and vibrant community. The company said, 'The name Navbharat Mega Developers is based on the company's commitment to development, change, and hope and the renaming exercise has been approved by its board of directors and the Ministry of Corporate Affairs.'

Adani Group had an 80 percent stake in Dharavi Redevelopment Project Private Limited, while the rest is with the state government. Now the stake in the new company will also remain unchanged. Under the Dharavi project, the Adani Group company will develop 620 acres of land in Mumbai. Under the plan, Dharavi will be developed as a modern urban center. The densely populated Dharavi area close to Mumbai's international airport is currently full of slums, where about 10 lakh people live in open sewers and shared toilets. Under the project, eligible residents will be given flats of up to 350 square feet for free. The scheme will cost around three billion dollars.

On the name change, the company said in a statement that 'The name Navbharat, which means 'New India', reflects this project's enormous potential in shaping a better tomorrow. Mega reflects the huge scale and impact of the work being done, while the developers point to the company's role in building a thriving community.' The statement said, 'As India works towards its ambitious goal of becoming slum-free, the redevelopment of Dharavi is an important step in that direction. NMDPL is reaffirming its pledge to the national interest with this new name.