62 individuals from Telugu States in Hurun India Rich List

With a wealth of Rs 49,200 crore, Murali Divi and family of Divi’s Laboratories top the list from TS & AP

By Author  |  Business Bureau  |  Published: 29th Sep 2020  5:21 pmUpdated: 29th Sep 2020  5:45 pm
62 individuals from Telugu States in Hurun India Rich List

Hyderabad: The ninth edition of Hurun India Rich List 2020 brought out in collaboration with IIFL Wealth has listed 62 individuals hailing from Telangana and AP. These individuals cumulatively own wealth of Rs 2,45,800 crore. Wealth calculations are as of 31 August, 2020, when the rate of exchange to the US dollar was Rs 73.67.

With a wealth of Rs 49,200 crore, Murali Divi and family of Divi’s Laboratories top the list from the Telugu States while with a wealth of Rs 13,900 crore, B Parthasaradhi Reddy and family of Hetero Drugs secures the second spot.

Chigurupati Krishna Prasad of Granules India and C Sathyanarayana of Laurus labs gained wealth by 218 per cent and 210 per cent respectively and are among the top five wealth gainers in India. The number of US Dollar billionaires from the Telugu States increased to nine this year from five last year.

The report shows cumulative wealth of individuals in the Telugu States registered a 34 per cent jump compared to last year. With three individuals each, Medha Servo Drives, Virchow Laboratories and Singhania Foods International contribute Rs 7,200 crore, Rs 4,000 crore and Rs 3,800 crore, respectively to the list. With a wealth of Rs 4,700 crore, Mahima Datla and family is the only woman entrant to feature on the list.

From the residence of individuals point of view, 51 hail from Hyderabad, three from Visakhapatnam, and two each from Ranga Reddy and Secunderabad feature in the list.

In terms of number of individuals in the list, the pharmaceutical sector accounts for 32 per cent of the richest in the Telugu States, followed by food processing with 11 per cent and Construction & Engineering with eight per cent.

There were nine new entrants to IIFL Wealth Hurun India Rich List 2020 from these States in the latest edition. These individuals contributed a cumulative wealth of Rs 16,600 crore to the list.

Pan-India, Hurun and IIFL found 828 individuals with Rs 1,000 crore, up three-fold compared to 2015. Mukesh Ambani gained Rs 90 crore per hour since the March lockdown while his wealth increased by Rs 2,77,700 crore to Rs 6,58,400 crore and retained the richest Indian title for the ninth year.

The country has 179 US Dollar billionaires in the 2020 list, up three times since Hurun listings started in 2013. About 627 increased their wealth, of which 162 were new faces and 76 per cent of the individuals were self-made.

 

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