Andhra Pradesh Chief Minister N Chandrababu Naidu was declared the richest chief minister in India with assets worth over Rs 931 crore, according to an Association for Democratic Reforms (ADR) report released on Monday. However, Naidu became wealthiest on account of his family’s shareholding in a dairy firm called Heritage Foods Ltd, Moneycontrol reported.
Reports suggest, about 82 per cent of the Rs 931 crore wealth attributed to Naidu is on account of his wife Bhuvaneswari Nara’s 24.37 per cent stake in Heritage Foods Ltd. Presently, Bhuvaneswari is the vice-president and managing director of the company.
Set up in 1992, Heritage Foods, the milk and dairy product retailer, listed on bourses in 1994. Notably, Naidu does not own any shares in Heritage Foods. Wife Bhuvaneswari’s stake Rs 763 crore stake in the company has been counted as Naidu’s wealth in the ADR report.
Who is Bhuvaneswari Nara?
Bhuvaneswari is the wife of Andhra Pradesh CM Chandrababu Naidu. She currently leads Heritage Foods as vice chairperson and managing director. The 65-year-old joined the company in 1994 as whole-time director. She is now guiding and monitoring the overall workflow of the organization. She holds a bachelor’s in Arts and is a director for several companies. Her daughter-in-law, Brahmani Nara, has been an executive director of the firm for the last 10 years. Brahmani is the wife of Nara Lokesh, son of Chandrababu Naidu.
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