Vijayawada, October 08, 2021: Sixty nine individuals from Andhra Pradesh and Telangana figure in the IIFL Wealth Hurun India Rich List 2021, a compilation of individuals in the country with a wealth of ₹1,000 crore or more.
The cumulative wealth of those, in the list, from the Telugu States stood at ₹3,79,200 crore, which is an increase of 54% compared to last year. Maintaining hold on the top position was Murali Divi and family of Divi’s Laboratories with a wealth of ₹79,000 crore.
Retaining the second position was B.Parthasaradhi Reddy and family of Hetero Drugs with ₹26,100 crore, Hurun Report India and IIFL Wealth said in a release on Wednesday.
With three names each, Singhania Foods International and Virchow Laboratories accounted for ₹5,100 crore and ₹.4,400 crore respectively to the AP and Telangana list. The richest woman from the two States to feature on the list was Biological E’s Mahima Datla and family, with a wealth of ₹7,700 crore.
Executive Director of IIFL Wealth Shajikumar Devakar said the number of US dollar billionaires from Andhra Pradesh and Telangana increased to 15 from nine last year. A total of 62 individuals from the two States figured in the IIFL Wealth Hurun India Rich List 2020 with their cumulative wealth pegged at ₹2,45,800 crore
MD and Chief Researcher of Hurun India Anas Rahman Junaid said the number of entrants in the list has grown from a low single digit ten years ago to 69 today according to the reports published in thehindu.com.
In terms of the sectors the individuals in the list represent, pharmaceuticals accounts for 30% of the richest in the two States, followed by food processing with 10% of the individuals and construction and engineering (9%). There were 13 new entrants to the list from the two States in 2021. They contributed a cumulative wealth of ₹49,500 crore.
Others in the top 10 in the list of richest from the Telugu States are: P.Pitchi Reddy, PV Krishna Reddy and family of Megha Engineering & Infrastructures with a wealth of ₹23,400 crore; K.Satish Reddy and family (Dr. Reddy’s Laboratories) ₹12,300 crore; G.Amarender Reddy and family (GAR) ₹.12,000 crore; M.Satyanarayana Reddy and family (MSN Laboratories) ₹11,500 crore; GV Prasad and family (Dr. Reddy’s Laboratories) ₹10,300 crore; Venkateswaralu Jasti and family (Suven Pharmaceuticals) ₹9,700 crore; PVN Raju (Gland Pharma) ₹9,300 crore; and V.C.Nannapaneni (Natco Pharma) ₹.9,100 crore.
