Jagan Mohan Reddy's family assets soar to Rs 757 crore

Amaravati: Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy's family assets grew by more than 48 per cent in the last five years to reach Rs 757 crore.

The YSR Congress Party chief, who had declared family assets of Rs 510.35 crore in 2019, furnished the latest information about his family assets to the Election Commission on Monday.

The affidavit was submitted along with the nomination filed on his behalf before the returning officer of the Pulivendula Assembly constituency in Kadapa district.

Jagan Mohan Reddy’s assets increased from Rs 375 crore in 2019 to Rs 529.87 crore while that of his wife Bharti Reddy mounted to Rs 176.30 crore from Rs 124 crore five years ago.

The Chief Minister’s movable assets are valued at Rs 483.08 crore including investments to the tune of Rs 263.64 crore in companies like Bharathi Cement, Carmer Asia, Classic Realty, Harish Infrastructure, Sandur Power, Saraswati Power & Industries, and Silicon Builders.

Bharathi Reddy’s movable assets are at Rs 119.38 crore including investment in various companies like Sandur Power, Saraswati Power & Industries, Kealawn Technologies, Classic Reality, and Aakash Estates to the tune of Rs 69.42 crore.

Like many other rich candidates, the couple declared that they own no vehicle.

Jagan, however, mentioned that he has one bulletproof Scorpio registered in his name but owned by others.

Their two daughters Y.S. Harshini Reddy and Y.S. Varsha Reddy have movable assets of Rs 24.26 crore and Rs 23.94 crore, respectively.

The immovable assets of Jagan Mohan Reddy are valued at Rs 46.78 crore and that of his wife at Rs 56.92 crore. Their daughters have immovable assets of Rs 1.63 crore each.

The family has total liabilities of Rs 26.55 crore.

Jagan Mohan Reddy, who declared politics and public service as his profession, had an income of Rs 57.74 crore during 2022-23 and Rs 62.29 crore during 2021-22. Bharathi Reddy, a businesswoman, had an income of Rs 10.96 crore and Rs 8.79 crore for 2022-23 and 2021-22, respectively.

Jagan Mohan Reddy, who is seeking re-election from Pulivendula for a third consecutive term, also mentioned that 26 criminal cases are pending against him including cases booked by the Central Bureau of Investigation (CBI) and the Enforcement Directorate under the Prevention of Corruption Act and the Money Laundering Act, among others. He, however, was not convicted in any case.