Andhra Municipal Administration and Urban Development Minister Ponguru Narayana, who is also the founder of the Narayana Group of institutions, and is contesting the Assembly elections from Nellore City has declared assets worth Rs 274.2 crore. Interestingly, his wife Ponguru Ramadevi, who is a homemaker, has assets worth Rs 397 crore.
In the affidavit, Narayana, who has stated his profession as ‘public life’, has disclosed an income of Rs 2.63 crore according to the income tax returns filed for the financial year 2017-18. He has moveable assets worth Rs 73.57 crore and total immovable assets (at current market value) worth Rs 198 crore. This includes mainly non-agricultural land across locations such as Chintareddy Palem and Nellore among others and commercial buildings in various places in Hyderabad and Nellore.
He has declared his sources of income as being rental and remuneration.
Pongeru Ramadevi, a homemaker, has moveable assets worth Rs 143 crore (approx). This includes gold worth Rs 16 crore, a Honda Accord car and another car which together are worth Rs 1.1 crore, and a KTM Duke bike worth Rs 1.37 lakh. Interestingly, Narayana himself owns only one car and no jewellery.
Ramadevi also declared immovable assets worth Rs 253 crore (approx) which include agricultural land, non-agricultural land and commercial buildings. Her source of income has been declared as only from rent of the land she owns.
Narayana has liabilities worth Rs 66 crore, while his wife has liabilities worth Rs 135 crore. Of government dues, while Narayana has none, his wife has a dispute of income tax involving a sum of Rs 4,53,912, which is pending disposal before the Commissioner of Appeals Income Tax.
Narayana has declared personal loans or advances given to persons, entities, firms including receivables from debtors worth Rs 70.2 crore, of which Rs 3.7 crore went to Narayana and Sri Chaithanya institutions. Interestingly, he also loaned his wife (who is monetarily worth a lot more than him) Rs 46.5 crore. His wife, on the other hand, has declared Rs 146 crore in personal loans or advances given to persons, entities, firms etc. Of this, Rs 59 crore was given to the Narayana Educational Society.