A few days ago, Andhra Pradesh chief minister N Chandrababu Naidu’s son and IT minister Nara Lokesh tweeted that “Brahmani was a god’s gift to me.”
He also posted an intimate picture of theirs along with the tweet.
Not many people wondered why Lokesh had made that comment and they all thought he was only showing his immense love towards his wife on the marriage day.
But, reports in a section of digital media say Lokesh was only thanking the god for giving him such an intelligent wife whose decision increased their wealth by four to five times in a span of two years.
So, what is the decision?
Everybody knows Naidu’s family has been running Heritage group for several years. It has been growing steadily, though not recording huge profits.
In fact, the group started making profits after Naidu’s wife Nara Bhuvaneshwari took over the company as Managing Director.
However, one group company – Heritage Retail – was not performing well, as it was extremely difficult to run the retail business in a tough competitive world.
Already multinational like Wall Mart and northern companies like Future Group and Aditya Birla Group were racing ahead in the market.
So, when Brahmani, a business postgraduate from Stanford University, gained control over Heritage Group, she convinced her in-laws and the company directors to dispose of the retail business of the Heritage group.
In November 2016, Brahmani sold away the retail business to Kishore Biyani’s Future group. However, Heritage retained a nominal stake of 3.65 per cent worth Rs 295 crore.
Now, the Future Group is suddenly in demand, as multinational companies like Amazon have come forward to buy shares in Future Group at high rates.
Suddenly, the share value of the Future retail chain has gone up steeply, bringing rich dividends to the investors. And the value of Heritage stakes in Future group has gone up four to five times.
It means, the wealth of Nara family has shot up from Rs 300 crore to nearly Rs 1500 crore in a span of two years. All credits to Brahmani who took the decision to sell off the retail business of Heritage.
No wonder, Brahmani has become a god’s gift to Nara family!
