Five-day wealth surge: Naidu’s wife gains Rs 535 cr, son Rs 237 cr

New Delhi: Heritage Foods, a company founded by Chandrababu Naidu, has seen significant gains following the success of his party, TDP, in the Lok Sabha and Andhra assembly elections. Over the past five days, the company’s shares have surged by 55 per cent, resulting in an increase of Rs 535 crore in the wealth of Nara Bhuvaneshwari, Naidu’s wife and a promoter of the company.

On June 3, just before the election results were announced, Heritage Foods shares were trading at Rs 424. As of today, the shares are valued at Rs 661.25. Chandrababu Naidu established Heritage Foods in 1992. According to its website, it is “one of the fastest-growing public-listed companies in India” with two business divisions: dairy and renewable energy. Heritage’s dairy products are marketed across Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand, and Uttar Pradesh.

Nara Bhuvaneshwari is the company’s largest shareholder, holding 2,26,11,525 stocks, based on BSE data. Naidu’s son, Nara Lokesh, also holds 1,00,37,453 shares of Heritage Foods. With the recent stock surge, Lokesh’s net worth has increased by Rs 237.8 crore. The sharp rise in the company’s stock price began on June 4, coinciding with the announcement of the Lok Sabha election results. The TDP won 16 out of the 17 seats it contested, playing a crucial role in the NDA’s overall election victory.

The NDA secured 293 seats in the 543-member Lok Sabha. The BJP, which had a strong majority in the previous two terms, won only 240 seats, falling short of the 272 seats needed to form a government independently.