TS, AP home to 11 billionaires
78 individuals from 2 Telugu States feature in IIFL Wealth Hurun Rich List 2022
image for illustrative purpose
Hyderabad: As many as 11 billionaires (having wealth of more than Rs 8,000 crore) hail from Andhra Pradesh and Telangana States. Hurun Report India and IIFL Wealth unveiled the latest edition of 'IIFL Wealth Hurun India Rich List 2022' - a compilation of the richest individuals in India having a wealth of Rs 1,000 crore or more. About 78 individuals from the two Telugu States feature in this list.
As per a report, the cumulative wealth of rich-listers in both States increased 3 per cent at Rs 3.9 lakh crore this year when compared to last year. With a wealth of Rs 56,200 crore, Murali Divi & family of Divi's Laboratories, retain the top slot. Similarly, B Parthasaradhi Reddy & family of Hetero Labs remained in the second spot of the list with a wealth of Rs 39,200 crore.
With three names each, MSN Laboratories, Singhania Foods International and Virchow Laboratories contribute Rs 20,600 crore, Rs 4,800 crore and Rs 5,300 crore respectively to the list. With a wealth of Rs 8,700 crore, Mahima Datla & family is the richest woman to feature on the list. Around 64 individuals hail from Hyderabad, five from Visakhapatnam and three from Ranga Reddy feature in the list.
The two States' rich list recorded 11 new entrants in 2022. These individuals contributed a cumulative wealth of Rs 22,600 crore to the list this year. The new entrants include Alla Ayodhya Rami Reddy from Ramky Group having a wealth of Rs 7,400 crore, Ramesh Kancharla from Rainbow Children's Medicare with Rs 2,900 crore, and Ch Krishna Murthy from Vishnu Chemicals Chemicals with Rs 1,900 crore.
Yatin Shah, Co-Founder and Joint CEO, IIFL Wealth, said, "AP and Telangana is the brightest spot in South India. Pharma sector accounts for 31 per cent of the richest in both States, followed by food processing sector, food & beverages, construction and chemicals sector respectively. We also believe that these States will continue to contribute more entrants to the list in years to come."
Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said: "Eleven years ago, the number of entrants in the list has grown from just three to 78 today. It's almost 26 times in 11 years. At this rate, in five years, AP and Telangana rich list is in line with our prediction to register 200 individuals within the next decade. The evolution is a reflection of the entrepreneurial spirit of the Telugu community."
"On a national level, the trends in IIFL Wealth Hurun India Rich List 2022 prove that India has taken booster shots against the global crisis. Be it Ukraine War or inflationary pressures, the Indian growth story continues against all odds as 149 individuals entered the list of 1,103 who cumulatively have a wealth of Rs 100 lakh crore," he added.
