The assets of Nara Lokesh, the son of former Chief Minister N Chandrababu Naidu, and his wife rose from Rs 373 crore in 2019 to Rs 542 crore - a whopping rise of 45 per cent over the last five years.
In the affidavit submitted by him as the Telugu Desam Party (TDP) MLA candidate for the Mangalagiri Assembly constituency, Mr Lokesh made public that the value of his assets, including his wife and dependent son, was Rs 542 crore, up 169 crore from 2019.
There are 24 criminal cases against 41-year-old Nara Lokesh, with the Amaravati Inner Road (IRR) scam one among them.
The movable assets that Mr Lokesh, his wife Brahmani, and their son possess are valued at Rs 394 crore. These assets mostly consist of shares in Heritage Foods, Heritage Finlease, Nirvana Holdings, and Megabid Finance.
The properties, which make up the immovable assets, that Mr Lokesh and his family possess in Hyderabad's Jubilee Hills, Manikonda, Madinaguda, and Madhapur are valued at Rs 148 crore.
In 2022-2023, Mr Lokesh and his family's revenue from company, dividends, wages, and rentals was Rs 9 crore, while their obligations totalled Rs 18 crore.
Mr Lokesh, who completed his MBA from Stanford University, asserts that he is a politician in the social service field.
Elections for the 175-member Assembly and 25 Lok Sabha seats in Andhra Pradesh are scheduled to be held on May 13.
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