Grandson wealthier than Chandrababu Naidu


For the ninth consecutive year, the former Chief Minister and Telugu Desam Party president N. Chandrababu Naidu and his family declared their assets and liabilities.

Mr. Naidu’s son and general secretary of TDP Nara Lokesh told reporters at the TDP office here that the assets were declared according to sale deed value and not market value.

According to the statement of assets and liabilities released by Mr. Lokesh, the TDP president has net assets worth ₹3.87 crore. Mr. Naidu owns a residential house measuring an extent of 1,125 square yards at Jubilee Hills valued at ₹8.01 crore, three-fourths of residential building at Naravaripalli costing ₹23.84 lakh, an ambassador car valued at ₹1.52 lakh, and balances in savings bank accounts worth ₹74.10 lakh.

Mr. Naidu assets grew by ₹87 lakh when compared to that of last year. The total assets of Mr. Naidu are valued at ₹9 crore and liabilities at ₹5.13 crore.

In contrast, his grandson, N. Devansh has total assets of ₹19.42 crore, which includes an open plot at Jubilee Hills valued at ₹16.17 crore, fixed deposits valued at ₹3.18 crore.

Mr. Naidu’s wife, Nara Bhuvaneswari has net assets valued at ₹39.58 crore, an increase of ₹8.50 crore from last year. Ms. Bhuvaneswari owns a semi permanent warehouse at Sriperumbadur in Tamil Nadu valued at ₹1.86 crore, agricultural land at SeriLingampally mandal valued at ₹73 lakh, 1.06 crore shares of ₹5 each in Heritage Foods Limited valued at ₹19.95 crore, 100 shares in Vijaya Bank valued at ₹0.02 lakh, her total investments in unlisted companies are valued at ₹2.77 crore, and she owns gold jewellery worth ₹1.27 crore. Her total assets are valued at ₹50.62 crore, while her liabilities are valued at ₹11.04 crore.

Mr. Lokesh on the other hand, declared his net assets are valued at ₹19 crore, a decrease of ₹2.4 crore than that of last year, as he said that he had gifted his shares at Nirvana Holdings worth ₹1.62 crore to his wife Nara Brahmani. Besides a residential property at Jubilee Hills in Hyderabad valued at ₹10.35 crore, a gifted agricultural land at Madhinaguda, Mr. Lokesh has a farm house at Madinaguda valued ₹2.21 crore. His investments in listed companies are valued at ₹2.52 crore, while his investments in unlisted companies are valued at ₹92.49 lakh. His total assets are valued at ₹24.70 crore and liabilities are valued at ₹5.70 crore.

Ms. Brahmani has net assets worth ₹11.51 crore, which includes a plot in Jubilee Hills, Hyderabad, valued at ₹8.82 crore, liquid assets of ₹81.74 lakh. Her total assets are valued at ₹15.68 crore while her liabilities are valued at ₹4.17 crore.

“We are declaring these assets for the ninth consecutive year and all these assets have been acquired after hard work. My father set up Heritage Foods 27 years back and the firm has been functioning smoothly and we had a turnover of ₹2,500 crore in the last year and the milk and milk products are sold in 15 States and we have been working with 3 lakh dairy farmers,” said Mr. Lokesh.

Stating that Heritage Foods was a public limited company, Mr. Lokesh said they had been declaring the accounts for every three months.

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