Nara Bhuvaneswari, wife of Telugu Desam Party (TDP) leader Chandrababu Naidu, has seen her net worth increase by a whopping Rs 579 crore in just five days. This remarkable growth has been attributed to the outstanding performance of FMCG company Heritage Foods, where she holds a significant stake.
Bhuvaneswari is the daughter of former Andhra Pradesh Chief Minister and TDP supremo N. T. Rama Rao (NTR), who played a pivotal role in Telugu politics. NTR, known for his charismatic personality, was considered one of the most influential actors and filmmakers in Indian cinema.
Despite her family’s deep involvement in politics, Bhuvaneswari has chosen to stay away from the political arena. She currently serves as the Managing Director of Heritage Foods, a family-run business. Naidu co-founded Heritage Foods, which has recently experienced a sharp increase in stock price in the wake of the Lok Sabha election results, despite a general market collapse.
In just five trading sessions, Heritage Foods’ stock price shot up from Rs 402.90 per share on May 31, 2024, to an intraday high of Rs 659 per share. This surge resulted in a gain of Rs 256.10 per share. Based on BSE data, Nara Bhuvaneshwari is the company’s largest shareholder, owning 2,26,11,525 shares. Additionally, Nara Lokesh, the son of Mr. Naidu, owns 1,00,37,453 shares in Heritage Foods. The meteoric rise in stock price has also seen Lokesh’s net worth increase by Rs 237.8 crore.
The notable rise in the family’s wealth comes shortly after the announcement of the Lok Sabha election results on June 4. The TDP played a key role in the NDA’s election victory, taking 16 of the 17 seats it contested for. In the 543-member Lok Sabha, the NDA secured 293 seats. Even though it had a comfortable majority in the last two administrations, the BJP only managed to gain 240 seats, well short of the 272 required to form a government.
