Chandrababu Naidu has net assets worth about 3 crore

Amaravati: Chief Minister N Chandrababu Naidu has net assets worth about Rs 3 crore, announced his son and Minister for IT and Panchayat Raj Nara Lokesh on Wednesday.

Addressing a press conference at the Chief Minister’s residence at Undavalli in Guntur district, Lokesh said Naidu has liabilities worth Rs 5.31 crore as he took loan from Bank of Baroda to construct house and his total assets are worth Rs 8.31 crore. 

The Chief Minister has money in his savings accounts of banks to the tune of Rs 4.8 lakh. Still he owns an Ambassador car of 1993 model worth around Rs 1.5 lakh.

Lokesh claimed that all his family members possess net assets worth Rs 63.13 crore and the total assets stand as Rs 121.07 crore. Nara Bhuvaneswari, wife of Naidu holds net assets worth Rs 31 crore and total assets of Rs 53.3 crore. She took loans from banks and other financial institutions to the tune of Rs 22.35 crore. 

She made investments worth Rs 3.28 crore in Nirvana Holdings Private Limited, Rs 0.01 lakh in Heritage Finlease Limited and Rs 22 lakh in Megabid Finance and Investment Private Limited, all these are unlisted companies. 

Bhuvaneswari has around Rs 2.3 crore in Provident Fund account. She has 1,06,61,652 shares in family owned Heritage Foods Limited and also has another 100 shares in Vijaya Bank. The worth of the shares held by Bhuvaneswari in the Heritage Foods stands at around Rs 20 lakh. 

She has five acres of agriculture land at S.No 51, Madhinaguda village at Seri Lingamappaly mandal in Ranga Reddy district in Telangana, worth about Rs 73 lakh. This was purchased during the financial year 2004-05. She has gold jewellery with precious stones weighing 3,519 gm and silver ornaments weighing 42.41 kg. 

Lokesh has net assets worth Rs 21.4 crore as on March 31, 2018. He has total assets worth Rs 27.29 crore. He has liabilities to the tune of Rs 5.88 crore. 

Both Chandrababu Naidu and Lokesh have stake in a residential house at Plot no 1310, Road No,65, Jubilee Hills in Hyderabad worth around Rs 8 crore. Naidu has another house at Naravaripalli at Chandragiri mandal in Chittoor district, which is hereditary property worth Rs 23 lakh.  

Lokesh has 47,32,800 shares in Heritage Foods and also has shares in other unlisted companies including Nirvana Holdings private limited, Megabid Finance and Investment private limited and Heritage Finlease limited. He has one Ford Fiesta and two Bullet proof Fortuners. He holds just Rs 11 lakh in his savings bank accounts.

Lokesh said that his wife Nara Brahmani holds Rs 7.72 crore as net assets and Rs 13.38 crore as total assets. Brahmani has a plot  of 924 sq yars at Madhapur in Ranga Reddy district worth Rs 17 lakh. She has a plot of 723 sq yars at Jubilee Hills in Hyderabad whichcosts around Rs 8 crore.

She also has a commercial property in Chennai in Tamil Nadu in an area of 4782 sq ft and costs nearly Rs 48 lakh. She also has gold and silver ornaments. 

Nara Devansh, son of Lokesh has total assets worth Rs 18.71 crore.  Lokesh explained that he has been declaring the value of the assets at the time of acquisition but not the current or real time value. 

The Nara family purchased the shares in Heritage Company when the face value of each share was just Rs 10 and now the share value is more than Rs 2000. 

This was at the time of listing in share market. Now the Heritage Foods Limited is a public listed company, with share holding pattern – 14 promoters hold 39.90 percent, 67 institutions hold 17.64 percent and the remaining 42.46 percent is being held by 22,855 non-institutions. The market cap of the Heritage as on March 31 is Rs 3,199 crore.