Hurun India Rich List 2021-TS & AP: Pharma tycoons dominate

Hyderabad: EIGHT of the top ten richest individuals from Telangana and Andhra Pradesh are pharmaceutical industrialists as per a report. Hyderabad-based Divi's Laboratories Founder Murali Divi retained the top slot with a wealth of Rs 79,000 crore. Another pharma company Hetero Group Chairman B Parthasaradhi Reddy stood second in the list with Rs 26,100 crore worth assets.

According to the IIFL Wealth Hurun India Rich List 2021 which was released recently, Telugu States are home to 69 individuals who have net worth of Rs 1,000 core or more. Pharmaceuticals sector accounts for 30 per cent of the richest in Telangana and AP, followed by food processing with 10 per cent and construction & engineering with 9 per cent of the individuals. Both States have 13 new entrants with a cumulative wealth of Rs 49,500 crore to the latest edition of Rich List.

GAR Corp Founder and Chairman G Amarender Reddy and Suven Pharmaceuticals Chairman and CEO Venkateswarlu Jasti were among the new additions from Telugu States in the Rich List with wealth of Rs 12,000 crore and Rs 9,700 crore respectively. The list features 56 individuals from Hyderabad, four from Ranga Reddy and three from Visakhapatnam.

As many as 21 industrialists from pharma sector were among the top richest in both Telugu States, while seven individuals were from food processing sector and six from construction & engineering sector. There were five industrialists from chemicals & petrochemicals sector, and four each from software & services and real estate sectors respectively.

The cumulative wealth of individuals in the Telangana and AP registered a 54 per cent increase to Rs 3.79 lakh crore compared to last year. With three names each, Singhania Foods International and Virchow Laboratories contribute Rs 5,100 crore and Rs 4,400 crore respectively to the list. With a wealth of Rs 7,700 crore, Mahima Datla is the richest woman to feature on the list.

Shajikumar Devakar, Executive Director, of IIFL Wealth, says: "The number of billionaires from Telangana and AP increased to 15 from 9 last year. This year's list has 69 individuals from the two States. The future for Indian entrepreneurs is very bright and we look forward to playing an integral role in their journey towards wealth creation."

Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said: "The number of entrants in the list from has grown from just under 3 ten years ago to 69 today. At this rate, in five years, I expect the list to grow to 200 individuals. The evolution of the IIFL Hurun AP and Telangana Rich List is a reflection of the entrepreneurial spirit of the Telugu community."

The richest of Telugu States