The Adani Group intends to fund the entire Dharavi slum redevelopment project through internal accruals and is considering the sale of equity in the special purpose vehicle (SPV) designated for the initiative, according to sources. The group recently appointed three companies, including architect Hafeez Contractor, as city planners to present a draft development plan for Asia’s largest slum cluster. The redevelopment project, for which Adani Group pledged a Rs 21,000 crore investment, is set to involve noted design firms such as Sasaki and Buro Happold. While no specific timeline has been provided, the Adani Group secured the bid for Dharavi’s redevelopment in November 2022, committing an initial equity investment of Rs 5,069 crore.
Adani Group Plans to Finance Dharavi Redevelopment via Internal Accruals and Potential Equity Sale
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