Aligning with the BJP seems to come with more than just political capital. It often brings a tidal wave of financial tailwinds as well. Nara Chandrababu Naidu’s ascent to power, with support from the BJP, appears to have coincided rather conveniently with a stunning upswing in Heritage Foods’ stock and, by extension, his family’s wealth.
According to reports, Nara Bhuvaneshwari, wife of Telugu Desam Party (TDP) leader Chandrababu Naidu, saw Rs 121-crore leap in her personal wealth, thanks to a sudden 10% surge in the stock price of Heritage Foods.
The irony is hard to miss. While many students from underprivileged families in India mortgage land for education and farmers plead for minimum support prices, a single trading day handed her a windfall that most wouldn’t see in a hundred lifetimes.
Naidu’s formative years were marked with struggles, however. He was born into an agricultural family and struggled to access education. He attended primary school in Seshapuram and completed his higher education in Chandragiri.
Reports claimed that Heritage Foods stock ended the day at Rs 485. It galloped to Rs 541.60, eventually settling at Rs 527. But by then, the Naidu family’s financial thermometer had already blown past boiling point.
Bhuvaneshwari reportedly holds 2.26 crore shares in Heritage Foods, translating to a 24.37% stake. The day the markets smiled upon the dairy giant, her stake alone swelled by Rs 121 crore.
This rally reportedly increased the net worth of Nara Lokesh, Naidu’s son, who is one of the company’s promoters.
Naidu’s movable assets are reportedly worth Rs 4.80 lakh and immovable assets valued at Rs 36.31 lakh. His family’s total liabilities cross Rs 10 crore.
Heritage Foods isn’t some quaint little co-op pushing milk packets door to door. It’s a southern dairy behemoth headquartered in Hyderabad, valued north of Rs 5,000 crore. As a report rightly phrases it, the firm is a crown jewel of the Naidu family empire.
The company reported a Rs 1,136.8 crore revenue in Q1, marking its third consecutive quarter of double-digit growth. They’re also expanding into animal feed and renewable energy.
Yet, in the lanes of Andhra, there’s another India running parallel. Students sell land and chase loans. Middle-class families helplessly dodge EMIs.
For the people, it’s milk prices and rising costs. For the Naidu family, it’s Rs 121 crore in a single trading day.
Heritage may sell milk but the cream, as always, floats to the top.
Also Read: Bachat Utsav Begins, Shop Your Favourites: PM Modi https://www.vibesofindia.com/pm-modi-says-gst-bachat-utsav-begins/
