Nara Lokesh Becomes Richer By 23 Times In 5 Months

Hyderabad: The affidavit filed by Nara Lokesh along with nomination papers in MLC elections showed an increase in his wealth by 23 times. He has shown his total assets valued at Rs 330 crore, including Rs 273.84 crore in the form of shares in Heritage Food, fixed assets worth Rs 18 crore and ancestral property worth Rs 38.52 crore.

However, in an earlier declaration of assets, which he did In style on 19 October 2016, total value of his properties was shown as Rs 14.50 crore, including Rs 2.52 crore from Heritage shares. The worth of shares in other companies was shown as Rs 1.64 crore and a car worth Rs 93 lakh. His assets have grown in just five months from Rs 14. 50 crore to Rs 330 crore. The Heritage owns just 3.65 percent of the Future Retail Ltd shares after the former was sold. The worth of the share is Rs 295 crore.

But the worth of the shares held by Lokesh has gone up from Rs 2.52 crore to Rs 273.84 crore. The worth of Brahmani’s assets has gone up from Rs 5.38 crore to Rs 28 crore, a four-fold increase. The value of assets shown in the name of Devansh, son of Lokesh, had a negative growth by 0.7 percent. It has gone down from 11.38 crore to 11.24 crore. It may be recalled that Heritage Foods was sold to Future Retail Ltd as soon as Prime Minister had announced his sudden decision of demonetisation.

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