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.
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.
