Andhra CM’s son owns assets worth Rs 320 cr

Amaravati: Andhra Pradesh Chief Minister N. Chandrababu Naidu’s son and cabinet minister Nara Lokesh owns assets worth over Rs 320 crore.

Lokesh declared this on Friday in an affidavit submitted along with his nomination for Mangalagiri Assembly constituency in state capital region Amaravati.

His movable assets were worth over Rs 253 crore and immovable assets were valued at Rs 66 crore.

His wife Nara Brahmani, a businesswoman, has assets worth Rs 33 crore including movable assets of over Rs 14 crore. Their four-year-old son Devaansh owns assets worth over Rs 19 crore.

Chandrababu Naidu and all his family members voluntarily declare their assets every year. Last year, Lokesh’s total worth was Rs 27 crore.

The 36-year-old, who is making his electoral debut, mentioned in the affidavit that he holds shares worth Rs 242 crore in Heritage Food Limited, a family-owned firm. Brahmani, who is executive director of the company, also holds shares worth over Rs 10 crore.

Lokesh, who has done Master of Business Administration from Stanford University, owns three motor vehicles including a Ford Fiesta and two Toyota Fortuner.

The Telugu Desam Party (TDP) leader owns five acres agricultural land near Hyderabad worth over Rs 47 crore. He along with his father jointly owns a house in Jubliee Hills, Hyderabad valued at over Rs 19 crore.

Lokesh has liabilities of Rs 5.72 crore while his wife’s liabilities stood at Rs 3.41 crore.

Published on: March 23, 2019 at 01:34 IST

IANS