+
Adani's JV takes on Dharavi redevelopment amid legal controversy
Real Estate

Adani's JV takes on Dharavi redevelopment amid legal controversy

Gautam Adani's real estate division, a prominent Indian billionaire, has established a collaborative venture with Mumbai's Slum Rehabilitation Authority, marking a significant stride in the rejuvenation of Dharavi, one of Asia's largest slums mired in legal disputes.

A spokesperson from the Adani Group has confirmed the establishment of the entity, named Dharavi Redevelopment Project, without providing further details. The redevelopment of Dharavi, home to approximately one million people, has faced protracted delays over the years.

The formation of this joint venture assumes paramount importance, particularly as Adani is currently entangled in an ongoing legal dispute with a rival bidder, Dubai-based SecLink Technologies Corporation. SecLink contends that the Maharashtra state in Mumbai unjustly annulled the initial bidding process in 2018 and reinitiated it to ensure Adani's victory. Both the state and Adani vehemently deny any wrongdoing, insisting that SecLink's claims lack merit.

According to SVR Srinivas, the head of the state-run Dharavi Redevelopment Authority, the state government will appoint the chairman of the new 80:20 Adani Properties-state government joint venture, while the CEO will be selected from Adani's team. The subsequent step will involve the submission of a comprehensive master plan by the Adani Group, encompassing vital aspects such as infrastructure development, rehabilitation efforts, and public amenities.

Dharavi, a sprawling slum that covers an area roughly three-quarters the size of New York's Central Park, gained international recognition through its portrayal in Danny Boyle's Oscar-winning film "Slumdog Millionaire."

In July, the Adani Group secured the Dharavi rebuilding project by submitting a bid of $610 million. However, apart from the legal challenge posed by SecLink, concerns have been raised among Dharavi residents about billionaire Adani's ability to deliver on this ambitious project, especially in light of prominent financial setbacks following allegations of improper dealings made by US short seller Hindenburg in January, allegations which Adani vehemently refutes.

Gautam Adani's real estate division, a prominent Indian billionaire, has established a collaborative venture with Mumbai's Slum Rehabilitation Authority, marking a significant stride in the rejuvenation of Dharavi, one of Asia's largest slums mired in legal disputes. A spokesperson from the Adani Group has confirmed the establishment of the entity, named Dharavi Redevelopment Project, without providing further details. The redevelopment of Dharavi, home to approximately one million people, has faced protracted delays over the years. The formation of this joint venture assumes paramount importance, particularly as Adani is currently entangled in an ongoing legal dispute with a rival bidder, Dubai-based SecLink Technologies Corporation. SecLink contends that the Maharashtra state in Mumbai unjustly annulled the initial bidding process in 2018 and reinitiated it to ensure Adani's victory. Both the state and Adani vehemently deny any wrongdoing, insisting that SecLink's claims lack merit. According to SVR Srinivas, the head of the state-run Dharavi Redevelopment Authority, the state government will appoint the chairman of the new 80:20 Adani Properties-state government joint venture, while the CEO will be selected from Adani's team. The subsequent step will involve the submission of a comprehensive master plan by the Adani Group, encompassing vital aspects such as infrastructure development, rehabilitation efforts, and public amenities. Dharavi, a sprawling slum that covers an area roughly three-quarters the size of New York's Central Park, gained international recognition through its portrayal in Danny Boyle's Oscar-winning film Slumdog Millionaire. In July, the Adani Group secured the Dharavi rebuilding project by submitting a bid of $610 million. However, apart from the legal challenge posed by SecLink, concerns have been raised among Dharavi residents about billionaire Adani's ability to deliver on this ambitious project, especially in light of prominent financial setbacks following allegations of improper dealings made by US short seller Hindenburg in January, allegations which Adani vehemently refutes.

Next Story
Infrastructure Urban

Revolt Motors Unveils ‘Azadi From Petrol’ Offer

To mark India’s 78th Independence Day, Revolt Motors, the country’s leading electric motorcycle brand, has introduced its special “Azadi From Petrol” offer, encouraging riders to break free from rising fuel costs and embrace smarter, sustainable mobility.Under this limited-period scheme, customers purchasing any Revolt electric motorcycle can enjoy benefits worth up to Rs 20 million. The package includes zero insurance fees, providing free coverage valued at up to Rs 7 million, along with cash savings of up to Rs 13 million.The initiative highlights Revolt’s mission to make electric ..

Next Story
Infrastructure Energy

Inox Green Signs 182 MW Wind O&M Deal

Inox Green Energy Services Ltd., one of India’s leading renewable energy operations and maintenance (O&M) providers, has signed an agreement with a major diversified Indian conglomerate for the comprehensive O&M of 182 MW of operational wind projects under its renewable energy division.Located across multiple sites in Western India, these projects are integrated with common infrastructure owned by Inox Green. The deal includes converting 82 MW of wind projects from limited-scope to comprehensive O&M, as well as renewing comprehensive O&M for another 100 MW well ahead of sched..

Next Story
Infrastructure Urban

MPL Q1 Profit Rises to Rs 144 Million

Manali Petrochemicals Limited (MPL), a leading petrochemical manufacturer and part of AM International, Singapore, has reported its unaudited consolidated financial results for the quarter ended 30 June 2025.The company posted a consolidated total income of Rs 2.43 billion for the quarter, up from Rs 2.38 billion in the preceding quarter ended 31 March 2025. Profit Before Tax (PBT) stood at Rs 200 million, compared to Rs 159 million in the previous quarter, while Profit After Tax (PAT) rose to Rs 144 million from Rs 108 million. For the full year ended 31 March 2025, MPL recorded a total incom..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?