Chandrababu Naidu’s Family Earns Massive Rs 1,225 Crore In 12 Days, Here’s How

Chandrababu Naidu Wealth: TDP chief N Chandrababu Naidu is set to become the chief minister of Andhra Pradesh as he will be sworn in on June 12. Also, he is a key member of the central government as its ally.

Massive Surge In Heritage Foods Shares

Amidst the celebrations, Chandrababu Naidu’s family has seen their wealth significantly increase due to a surge in Heritage Foods shares, which jumped over 105% across 12 trading sessions. Consequently, the family’s fortune has grown by Rs 1,225 crore, with Heritage Foods shares reaching a new 52-week peak at Rs 727.9 on the BSE.

The shares, which were at Rs 354.5 on May 23, rallied between June 3 and June 10. The Naidu family owns 35.71% of Heritage Foods, equivalent to 3,31,36,005 shares.

Chandrababu Naidu’s Family’s Share Break Up

Nara Lokesh, son of Chandrababu Naidu, is a key promoter of the company, holding a 10.82% stake as of March 31, 2024. Other significant promoters include Chandrababu Naidu’s wife, Bhuvaneshwari Nara, with a 24.37% stake, and his grandson, Devaansh Nara, who owns 0.06%. Nara Brahmani, his daughter-in-law, has a 0.46% stake in Heritage Foods.

Following the company’s growth, Bhuvaneshwari Nara’s net worth has reached Rs 1631.6 crore, and Nara Lokesh has accumulated Rs 724.4 crore, bringing the family’s total earnings from Heritage Foods to Rs 2,391 crore.

How Did Heritage Foods Stock Went Up

The increase in Heritage Foods’ stock value occurred following Chandrababu Naidu’s victory in the Andhra Pradesh assembly elections, where he triumphed over YSRCP’s Jagan Mohan Reddy.

Heritage Foods is considered one of the foremost companies in India for value-added and branded dairy products. It also engages in the cattle feed business via its subsidiary, Heritage Nutrivet Limited (HNL). The company’s dairy products, including milk, are consumed by over 1.5 million households across 11 Indian states.

(With PTI inputs)