Transforming Dharavi: The Rise of Navbharat Mega Developers

Dharavi Redevelopment Project Pvt Ltd, backed by Adani Group, rebrands as Navbharat Mega Developers Pvt Ltd, reflecting a modern and inclusive vision. The unchanged shareholding includes an 80% stake by Adani Group. The project aims to transform Dharavi slums into a world-class urban district offering free flats to eligible residents.

Dharavi Redevelopment Project Pvt Ltd, supported by the Adani Group, has rebranded itself as Navbharat Mega Developers Pvt Ltd, aligning with its mission to foster a modern, inclusive community.

The new name, approved by the company's Board and the Ministry of Corporate Affairs, underscores a commitment to growth and a brighter future. Despite the name change, Adani retains its 80% stake, intact from the Dharavi Redevelopment Project.

This USD 3 billion endeavor aims to convert 620 acres of slum land near Mumbai's airport into a thriving urban center, offering free housing to eligible residents. The rebranding distinguishes the firm from the Dharavi Redevelopment Authority.

(With inputs from agencies.)