Nara Lokesh, Andhra Pradesh minister for IT, on Thursday released assets of his family as part of annual public declaration they are making every year since last 7 years. The details, revealed by Lokesh, says that his son Devansh is richer than his father and Chief Minister of AP – Nara Chandrababu Naidu.
The Heritage Food Company, founded by Chandrababu Naidu in 1992, has an annual turnover of Rs 2600 Crores, said the young IT minister of truncated state. Speaking at this event, Nara Lokesh iterated that Heritage Company is only source of income for the family. The assets declared by Lokesh reveal that his 2 years old son Devansh is wealthier than his father Chandrababu Naidu.
While Chandrababu Naidu’s wealth is worth 37 lakhs, his debt was declared as 3.58 Crore. Apart from that, Naidu has a residence in Hyderabad which is worth 4 Crores. Lokesh stated that his net holdings include 15.20 Crores whereas his wife Nara Brahmani’s assets worth 15 Crores. Interestingly, his son Devansh’s net worth is 11.54 Crores. And the richest among all – Babu’s spouse and Heritage group MD Nara Bhuvaneshwari (25 Crores).
The minister of state also declared that 4 Crores as spending for reconstruction of their residence in Hyderabad. Other possessions include Provident fund of 30 lakhs, shares in Heritage group. As per his declaration, there is no change in his father Chandrababu’s net assets.
