With assets of over Rs 405 crore, Komatireddy Rajgopal Reddy of the Congress is said to be the richest candidate in the fray for the November 30 Assembly elections in Telangana. Rajgopal Reddy, who is contesting from Munugode constituency in Nalgonda district, declared that he and his wife, Laxmi, own assets worth Rs 458.37 crore in the affidavit filed before election authorities along with his nomination papers on Thursday. Rajgopal Reddy and his wife’s net worth has gone up by more than 45% since 2018 when they declared combined assets of Rs 314 crore while contesting the Assembly election from Munugode.
This time, Rajgopal Reddy has declared movable assets of Rs 297.36 crore in his name. These include cash in hand, bank deposits, and shares in Sushee Infra & Mining Ltd with a book value of Rs 239.31 crore. His wife K Laxmi has movable assets worth Rs 4.18 crore, the affidavit says.
Rajgopal Reddy has immovable assets valued at Rs 108.23 crore while his wife owns immovable assets of Rs 48.60 crore, it says. These include agricultural and non-agricultural lands and commercial buildings.
He has total liabilities of Rs 4.14 crore. As per the affidavit, his income in 2022-23 was Rs 71.17 crore, a huge jump from Rs 1.52 crore in 2021-22.
Rajgopal Reddy has also submitted details of 16 contracts Sushee Infra and Mining Limited received from state governments, Singareni Collieries, Central Coalfields, and others in various states.
The Congress leader had declared assets of Rs 66 crore while contesting Lok Sabha elections in 2014. Rajgopal Reddy, who was a member of Lok Sabha from 2009 to 2014, was elected to the Assembly from Mungode on Congress ticket in 2018. He quit the Congress, resigned from the Assembly, and joined the BJP last year. He, however, lost the by-poll held in November last year.
Rajgopal Reddy, brother of Congress MP Komatireddy Venkat Reddy, returned to Congress a few days ago and secured the ticket again for Munugode.
Pailla Shekar Reddy of the ruling party Bharat Rashtra Samithi (BRS) is the second richest candidate in the state. Seeking re-election from Bhongir Assembly constituency, he has assets of Rs 227 crore.
Shekar Reddy is in the real estate business and is said to be partners with another BRS MLA Marri Janardhan Reddy and Medak MP K. Prabhakar Reddy.
Prabhakar Reddy, who filed the nomination as BRS candidate from Dubbak, has assets of Rs.197 crore. Recovering from a recent stabbing attack, he came to the office of a returning officer in a wheelchair to file his papers on Thursday.
He has movable assets of Rs 7.24 crore while his wife Manjulatha owns movable assets of Rs 9.41 crore. He has immovable assets of Rs 84.63 crore while that of his wife are valued at Rs 96 crore. In 2022-23, his income was Rs 2.91 crore while it was Rs 3.16 crore in the previous year. The couple has total liabilities of Rs 12.79 crore.
Janardhan Reddy, who is seeking re-election from Nagarkurnool, has declared assets of Rs 112 crore.
With Telangana, Mizoram, MP, Chhattisgarh, and Rajasthan on the ballot, TNM and Newslaundry have teamed up to bring you the most comprehensive reporting and analysis. Click here to power our election coverage.