Dharavi redevelopment SPV renamed Adani Navbharat Developers from July 16

The special purpose vehicle executing the Dharavi Redevelopment Project has been renamed Adani Navbharat Developers, with no change in ownership, governance or implementation

Navbharat Mega Developers Private Limited (NMDPL), the special purpose vehicle (SPV) implementing the Dharavi Redevelopment Project (DRP), has been renamed Adani Navbharat Developers Private Limited (ANDPL) with effect from July 16, 2026.

 

ANDPL, in a statement issued on Monday, noted that the change has been approved by the company's board of directors, shareholders, and the Ministry of Corporate Affairs, Government of India.

 

"The new name formally aligns the company with the Adani Group's corporate identity and reflects the group's long-term commitment to delivering one of the world's largest urban redevelopment programmes," ANDPL said.

 

Further, according to the statement, the change is limited to the company's name and does not affect the project's shareholding, governance structure, contractual obligations or implementation framework. The Adani Group's ownership, responsibilities, and commitments under the project agreement remain unchanged.

 

All land and rehabilitation assets covered under the tender will continue to remain with the government of Maharashtra. Work on the DRP will continue without interruption, ANDPL noted.

 

The statutory role of the Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) also remains unchanged. "The government of Maharashtra will continue to exercise all statutory powers relating to rehabilitation, beneficiary eligibility and project implementation," ANDPL stated.

 

DRP/SRA is a special body formed by the Maharashtra government under the SRA. ANDPL is the executing body for the DRP. The Adani Group has an 80 per cent stake in ANDPL, while the remaining 20 per cent stake belongs to the state government.

 

The DRP, the country's largest slum redevelopment project, is estimated to rehabilitate around 72,000 residential and commercial tenants at a cost of over Rs 95,790 crore.

 

Recently, Devendra Fadnavis, Chief Minister of Maharashtra, said the first phase of about 10,000 houses would be completed in the next 18 months. Land consolidation, faster approvals and timely rehabilitation are seen as key to achieving that milestone.