Dharavi Redevelopment Projects Ltd., a special purpose vehicle between the Government of Maharashtra and Adani Group for the redevelopment of Dharavi, has changed its name to Navbharat Mega Developers Ltd.
The rebranding decision was confirmed in a press release issued on Saturday. The move is aimed at “avoiding any misunderstanding with a government authority in the same field, namely the DRP (Dharavi Redevelopment Authority), the special planning authority of the Government of Maharashtra that deals with the redevelopment of Dharavi.” the paper said.
Notably, the role of the Government of Maharashtra in the Dharavi redevelopment project remains unchanged, with the release stating that the DRP will continue to be the supervisory authority for this ambitious project.
The new name of Navbharat Mega Developers has received approval from the company’s board of directors and the Ministry of Corporate Affairs, it added.
“The name ‘Navbharat’, which means ‘New India’, reflects the huge potential this project has in shaping a better tomorrow. “Developer” emphasizes the scale and impact of the work being done. “This demonstrates the role the company seeks to play in building thriving communities,” the company further stated.
