Working on an ambitious plan to rehabilitate the slums of Dharavi, Mumbai. Dharavi Redevelopment Project Private Limited (DRPPL) has changed its name. now its new name Navbharat Mega Developers Private Limited (NMDPL). The company is rebranding 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 towards growth, change and hope and the rebranding exercise has been approved by the company’s board and the Ministry of Corporate Affairs.”
Adani Group held 80 percent stake in DRPPL, the remaining stake was with the Maharashtra government. There will be no change in the shareholding of the company after rebranding. The change in the name of the company does not change the role of the government in the Dharavi project or the basic objective of the project.
What does the new name mean?
The statement said this change reflects the company’s new vision and commitment to create a broader and brighter future for all those involved or beneficiaries of the huge and historic task of rehabilitating slums across the country. The name Navbharat, meaning ‘New India’, reflects the immense potential of this project to shape a better tomorrow. The term ‘Mega’ highlights the sheer scale and impact of the work being done, while ‘Developers’ points to the role the company plays in building thriving communities.”
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There is a plan to transform Dharavi into a magnificent urban center
Adani plans to transform Dharavi, a slum area spread over 620 acres, into a magnificent urban center. In this densely populated slum area near Mumbai’s international airport, about 10 lakh people live in dilapidated slums with open sewers and shared toilets. Flats up to 350 sq ft will be given free to eligible residents as part of a $3 billion redevelopment to transform Dharavi into a world-class district.