Over the past five years, the assets of Nara Lokesh, son of former Chief Minister N Chandrababu Naidu, and his wife have seen a significant increase, soaring from â¹373 crore in 2019 to â¹542 crore, marking a staggering rise of 45 percent.
As declared in the affidavit submitted by him for the Mangalagiri Assembly constituency as the Telugu Desam Party (TDP) MLA candidate, Lokesh revealed that the combined value of his assets, along with those of his wife and dependent son, amounted to â¹542 crore, indicating a rise of â¹169 crore since 2019.
Nara Lokesh, aged 41, is entangled in 24 criminal cases, with the Amaravati Inner Road (IRR) scam being one of them.
The movable assets owned by Lokesh, his wife Brahmani, and their son total â¹394 crore, primarily comprising shares in companies like Heritage Foods, Heritage Finlease, Nirvana Holdings, and Megabid Finance.
Their immovable assets, located in Hyderabad's Jubilee Hills, Manikonda, Madinaguda, and Madhapur, are valued at â¹148 crore.
For the fiscal year 2022-2023, Lokesh and his family recorded a revenue of â¹9 crore from company returns, dividends, wages, and rentals, while their total obligations amounted to â¹18 crore.
Lokesh, who holds an MBA from Stanford University, asserts his role as a politician engaged in social service.
Elections for the 175-member Assembly and 25 Lok Sabha seats in Andhra Pradesh are slated to take place on May 13.