Business Standard

Worth over Rs 3 billion, meet the richest candidate in Telangana polls 2018

His net worth has gone up by 371 per cent during the past four years

IANS  |  Hyderabad 


With assets of over Rs 3 billion, K Rajgopal Reddy of the party is the richest candidate in the fray in next month's Assembly elections in Telangana.  

Rajgopal Reddy, who is contesting from Munugode constituency in Nalgonda district, declared family assets of Rs 3.14 billion in the affidavit filed before election authorities along with his nomination papers.  

His net worth has gone up by 371 per cent during the last four years. The leader, a businessman, had declared assets of Rs 660 million while contesting the Lok Sabha elections in 2014.  

Rajgopal Reddy, who was a member of Lok Sabha from 2009 to 2014, is currently a member of Telangana Legislative Council. 

His wife K Laxmi, who owns about Rs 2.9 billion of assets, is a director in Sushee Infra and Mining Ltd. According to the affidavit, the firm is executing projects in various states in the country.

Marri Janardhan Reddy of the ruling Telangana Rashtra Samithi (TRS) is the second richest candidate for the December 7 elections. Seeking re-election from Nagarkurnool constituency, he has declared family assets of Rs 1.61 billion, up from Rs 1.11 billion in the previous elections.

Marri Janardhan Reddy and wife Marri Jamuna Rani, both business persons, had over Rs 80 million income during 2017-18, a drop of 22 per cent in four years.

G Yoganand of Bharatiya Janata Party (BJP) is the third richest among candidates with assets of Rs 1.46 billion. A realtor, Yoganand is contesting from Serlingampally constituency on the outskirts of Hyderabad. 

Nama Nageswara Rao of Telugu Desam Party (TDP) is at fourth place with assets at Rs 1.13 billion. He is a candidate from Khammam constituency. He who was one of the richest MPs in the country with assets of Rs 3.38 billion declared in 2014.

Founder of Madhucon Group of companies, Nageswara Rao is one of the leading entrepreneurs of Telangana. According to the latest affidavit, he and his wife Nama Chinnamma together had an income of Rs 17.6 million during 2017-18 against over Rs 40 million in 2012-13.

P Shekhar Reddy of TRS, who is seeking re-electing from Bhongir constituency, declared assets of Rs 910 million. His fortunes have gone up by 46 per cent since 2014.

Arikepudi Gandhi is another TRS candidate with assets of over Rs 500 million. A candidate from Serlingampally constituency, he declared assets of Rs 620 million.

The other rich candidates include former Minister and leader Ponnala Lakshmaiah (Rs 680 million) and BJP's AV Raghunath Rao (Rs 550 million)

Finance Minister Etela Rajender is the richest among Ministers with Rs 424.1 million assets while Industries Minister KT Rama Rao, who is son of Chief Minister K Chandrashekhar Rao, is a close second with Rs 418.2 million assets. Rama Rao's assets increased by over 420 per cent in four years.

Chandrashekhar Rao is worth Rs 235.5 million. He had assets of Rs 151.5 million in 2014. TRS chief and his son rank top among candidates with agriculture income.  

First Published: Wed, November 21 2018. 15:24 IST