Dharavi redevelopment vehicle takes the Adani name as the 72,000-tenant rebuild advances

The special purpose vehicle executing the Dharavi Redevelopment Project has a new name. Effective July 16, Navbharat Mega Developers Private Limited became Adani Navbharat Developers Private Limited, a change approved by the company's board, its shareholders and the Ministry of Corporate Affairs. It is the vehicle's second rechristening: the original Dharavi Redevelopment Project Pvt Ltd took the Navbharat name in December 2024.

The company has stressed that the change is confined to the nameplate. The shareholding — the Adani Group at 80 per cent, the Maharashtra government at 20 — the governance structure and existing contractual obligations all carry over, and the state government continues to hold statutory powers over rehabilitation, beneficiary eligibility and implementation.

The scale underneath the branding is what matters for the MMR. The project is expected to rehouse roughly 72,000 residential and commercial tenants, with cost estimates upwards of ₹95,000 crore, making it one of the largest urban-renewal undertakings anywhere.

Its footprint also extends well beyond Dharavi itself: the transferable development rights the project generates, and the rental and rehousing stock it requires, will be felt across Mumbai's land market for years. Formally attaching the group's name to the vehicle reads as a statement of long-horizon commitment to seeing that through.