Dharavi Redevelopment Project changes name to Navbharat Mega Developers
Dharavi Redevelopment Project Pvt Ltd (DRPPL), the company undertaking the ambitious plan of revamping Dharavi, Asia's largest slum in Mumbai, has renamed itself as Navbharat Mega Developers Pvt Ltd (NMDPL).
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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.
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