Hyderabad: Andhra Pradesh and Telangana were in the brightest spot in South India as more than 78 individuals, from both the Telugu states, are in the IIFL Wealth Hurun India Rich List 2022.
Hurun Report India and IIFL Wealth unveiled the 2022 edition report of ‘IIFL Wealth Hurun India Rich List 2022’ – a compilation of the richest individuals in India having a wealth of INR 1,000 Crore or more.
Wealth calculations are a snapshot of August 30, 2022.
The cumulative wealth of individuals in AP & Telangana list registered a 3 percent increase compared to last year, the report said.
MSN Laboratories, Singhania Foods International and Virchow Laboratories contribute INR 20,600 crore, INR 4,800 crore and INR 5,300 crore respectively to the AP & Telangana list.
With a wealth of INR 8,700 Cr, Mahima Datla and family ( Biological E company) is the richest woman to feature on the list.
A total of 64 individuals are from Hyderabad, 5 from Visakhapatnam and 3 from Ranga Reddy feature in the list as well.
Speaking about the IIFL Wealth Hurun AP & Telangana Rich List 2022, Yatin Shah, Co-Founder and
Joint CEO, IIFL Wealth, said, “IIFL Wealth Hurun India Rich List 2022 is a comprehensive overview of a plethora of factors that have significantly contributed to the rising wealth of India and we are proud
to associate with the same”.
In terms of number of individuals in the list, the Pharma sector accounts for 31 percent of the richest in Andhra Pradesh and Telangana, followed by Food Processing sector, Food & Beverages, Construction and Chemicals sector respectively, said Yatin.
We also believe that AP & Telangana will continue to contribute more entrants to IIFLWealth Hurun India Rich list in years to come, he added.
Commenting on the launch of the India Rich List, Anas Rahman Junaid, Managing Director and Chief Researcher, Hurun India, said, “The number of entrants in IIFL Wealth Hurun AP and Telangana Rich List has grown from just under 3 eleven years ago to 78” today.
At this rate, in 5 years, AP and Telangana Rich List is in line with our prediction to register 200 individuals within the next decade. The evolution of the IIFL Hurun AP & Telangana Rich List is a reflection of the entrepreneurial spirit of the Telugu community.”
“On a national level, the trends in IIFL Wealth Hurun India Rich List 2022 prove that India has taken booster shots against the global crisis. Be it Ukraine War or inflationary pressures, the Indian growth story continues against all odds as 149 individuals entered the IIFL Wealth Hurun India Rich list of 1,103 who cumulatively have a wealth of INR 100 lakh crore,” Junaid added.