Dharavi Redevelopment SPV Officially Renamed 'Adani Navbharat Developers' Effective July 16, 2026

SPV for Dharavi Redevelopment Formally Renamed to Align with Adani Group Identity

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.

Board and Government Approval

ANDPL 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 renaming represents a formal corporate alignment rather than a substantive operational change.

No Change to Ownership or Structure

The change is limited to the company's name and does not affect the project's shareholding, governance structure, contractual obligations or implementation frame. The Adani Group has an 80 per cent stake in ANDPL, while the remaining 20 per cent stake belongs to the state government.

Strategic Positioning

ANDPL said 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."

Project Scale

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.