AP CM Jagan Reddy pegs worth of his family assets at ₹757 crore

Andhra Pradesh Chief Minister and YSR Congress Party (YSRCP) President YS Jagan Mohan Reddy’s family has assets worth ₹757 crore in various forms. 

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As per the affidavit filed along with his nomination for the Pulivendula assembly constituency, Reddy pegged the value of his own assets at ₹527 crore. 

The total assets of his family, including those of wife YS Bharathi Reddy and daughters Harshini Reddy and Padma Reddy, stand at ₹757.65 crore. In the 2019 polls, his family assets were shown as ₹510 crore. 

Equity investments

Reddy showed significant stakes in businesses in the form of equity shares in seven companies, including Bharathi Cements, Classic Realty Pvt Ltd., Harish Infrastructure, Silicon Builders, Saraswathi Power, and Industries, while Bharathi Reddy has investments in companies such as Reliance Industries, Jio Financial, NMDC, Asian Paints, and UltraTech Cements.

The Andhra Pradesh Chief Minister is facing 26 cases, including 11 filed by the Central Bureau of Investigation (CBI) and nine filed by the Enforcement Directorate (ED). 

Naidu affidavit

According to the affidavits, Jagan Reddy is ‘poorer’ compared to his main opposition leader and Telugu Desam Party (TDP) President N Chandrababu Naidu. Naidu, who filed his nomination from Kuppam, pegged his family assets at ₹931 crore, registering a 39 per cent increase over the last five years. 

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Nara Lokesh, the only son of Naidu, who filed his nomination on Tuesday from Mangalagiri, declared assets worth ₹542 crore for his family as against ₹373 declared in the 2019 elections. 

Naidu has movable assets of ₹4.80 lakh, including an ambassador car valued at ₹2.22 lakh. His wife, who is also the managing director of the family-owned company Heritage Foods Pvt. Ltd., has no vehicle.

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