Andhra Pradesh IT Minister Nara Lokesh
Andhra Pradesh IT Minister Nara Lokesh

Nara Lokesh declares family assets summing up to over Rs 88 crores

ANI | Updated: Nov 21, 2018 23:42 IST

Amaravati [Telangana], Nov 21 (ANI): Andhra Pradesh IT Minister Nara Lokesh on Wednesday declared the assets owned by him, along with that owned by his father and state Chief Minister N. Chandrababu Naidu, his mother N. Bhuvaneshwari, his spouse N. Brahmani, and his son Devaansh. The family is worth a combined Rs 88.66 crore.
An official document confirmed that the Chief Minister's combined assets stand at Rs 8.31 crore, including an 1125 square yard-house in Hyderabad's Jubilee Hills worth Rs 8 crore. Chandrababu's net liabilities add up to Rs 531.50 crore, thus leaving his net assets at Rs 2.99 crore.
The Chief Minister's wife, N. Bhuvaneshwari, owns assets worth Rs 53 crore. They include 1, 06, 61, 652 shares worth Rs 19.95 crore in the family-owned Heritage Foods Limited (HFL), which posted a net profit of Rs 6.038 crore. Her net assets stand at Rs 31.01 crore after adjusting the Rs 22.35 crore liabilities against her name.
Meanwhile, a residential property at Jubilee Hills worth Rs 10.35 crore is part of Lokesh's assets list, which sum up to Rs 27.29 crore. The Andhra IT Minister's liabilities of Rs 5.88 crores cut his total assets down to Rs 21.40 crore.
His wife, Brahmani, who is HFL's registered director, has multiple properties registered against her name, including an open plot at Jubilee Hills worth Rs 8.82 crores. Her net assets stand at Rs 7.72 crore after adjusting the liabilities from her combined Rs 13.38 crore-worth assets.
Their four-year-old son Devaansh's assets are valued over six-times as much as his grandfather's, continuing his streak of being richer than the Chief Minister since birth. Devaansh, who has no liabilities against his name, owns an open plot in Jubilee Hills worth Rs 16.17 crore. His total assets add up to Rs 18.71 crore.
The family's investment arm, Nirvana Holdings, declared net assets worth Rs 6.83 crore. (ANI)