Several business tycoons from Telugu states have now gained a prominent place in the list of top rich in the country, as per the latest Barclays Hurun India Rich List 2018, updated July-end this year.
The country has added 214 individuals, whose net worth is Rs 1,000 crore or more in the last few years.
Needless to say Mukesh Ambani, chairman of Reliance Industries, who has been topping the rich list since it was launched in 2012, has retained the position as the richest Indian with net worth of Rs 371,000 crore.
However, Telugu businessmen have also made it to the list, though they are nowhere nearer to Ambani brothers.
P Pitchi Reddy, chairman of Megha Engineering and Infrastructure Limited (MEIL), which has been executing several infrastructure projects in Telangana and Andhra Pradesh, has stood at the top of the list in the Telugu states with a wealth worth Rs 13,000 crore.
His nephew P V Krishna Reddy, who is the MD of MEIL, popularly known as Megha Krishna Reddy, stands in the third position with a total wealth worth Rs 12,400 crore.
The second position goes to B Parthasarathy Reddy of Hetero Group with Rs 12,800 crore.
While Jupalli Rameshwara Rao of My Home group with assets worth Rs 8,100 crore occupies the fourth position, B Vamsi Krishna of Hetero group comes next with Rs 7,800 crore, followed by V C Nannapaneni of Natco Pharma (Rs 7,000 crore), Neelima Motaparthi of Divis Laboratories (Rs 6,800 crore), Divi Sachandra Kiran of Divis (Rs 5,800 crore), M Satyanarayana Reddy of MSN Labs (Rs 5,000 crore), Apollo Group chairman C Pratap Reddy (Rs 4,900 crore), and Mandava Prabhakar Rao of Nuzveedu Seeds and Ramchandra Galla of Amara Raja Batteries (Rs 4,100 crore).
