News/City Updates

Nara Lokesh makes family’s assets public. Chandrababu Naidu apparently possesses the least valuable assets

Andhra Pradesh Minister of IT, Nara Lokesh, on Friday, made public the assets held by his family. This is the seventh consecutive year that the family has declared its wealth in public.

A post on the Facebook page of Telugu Desam Party (TDP) read, “For the seventh consecutive year, the Nara family has declared its assets to the public. The primary objective of these declarations over the years is to ensure that family subjects itself to public scrutiny and make themselves accountable for the wealth they have acquired. No other family associated with politics in India has ever done this.”

As per the statements made by Nara Lokesh at the press meet arranged by him, Chief Minister Chandrababu Naidu holds assets worth Rs. 2.53 crore, which is the least possessed by any member of their family. Chandrababu Naidu’s wife, Nara Bhuvaneswari, holds assets worth Rs. 25.41 crore.

In fact, going by the facts revealed by Lokesh, even Naidu’s grandson, Devansh, holds assets worth Rs. 11.54 crore to comfortably surpass his grandfather’s numbers.

As per a report in The News Minute

, Lokesh added that Naidu’s liabilities exceeded his assets by Rs 3.58 crore. There has been a slight decline in his assets when compared to what was declared last year – he had declared assets worth Rs 3.73 crore with liabilities worth Rs 3.06 crore.

While Nara Lokesh claimed to possess assets worth Rs. 15.21 crore, his wife Nara Brahmani reportedly holds assets worth Rs. 15.01 crore.

The IT Minister also stated that the family’s primary income comes from Heritage Group,  a publicly-listed dairy-products company, in which the company holds a share of 50.60 percent. He also added that the company, which was started in the year 1992, currently has a turnover of Rs. 2600 crore.

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