From a Modest Startup to India’s Richest Chief Minister: The Heritage Foods Success Story
A Dairy Empire Born from ₹7,000
In 1992, during India’s economic liberalization, Andhra Pradesh Chief Minister N. Chandrababu Naidu launched Heritage Foods Ltd with a paid-up capital of just ₹7,000. At a time when the dairy sector was opening up to private players, Naidu’s vision was to create a sustainable, farmer-centric dairy business.
- 1994 IPO oversubscribed 54 times, raising ₹6.5 crore
- Started operations in Andhra Pradesh and quickly expanded
- Now operates across 17 Indian states
- Works with nearly 3 lakh dairy farmers
Decades of Growth and Expansion
Heritage Foods has seen impressive financial growth:
- FY2000 turnover: ₹100 crore
- FY2025 turnover: ₹4,000 crore
- Market capitalisation:
- ₹25 crore in 1995
- Peaked at ₹6,755 crore in 2024
- Stands at ₹4,500 crore in 2025
- Net worth: ₹9.99 crore (1994) → ₹972 crore (2025)
The Nara family retains a 41.3% stake in the company, ensuring continued control and transparent management.
Behind the Scenes: Nara Bhuvaneswari’s Leadership
While Mr. Naidu entered active politics, his wife, Nara Bhuvaneswari, took charge of the business in 1994. Under her leadership:
- Heritage maintained a clean track record, with no state concessions or preferential contracts
- Focused on ethical business practices and farmer empowerment
- Built a publicly listed enterprise, rare for political families in India
Naidu’s Wealth Tied to Business, Not Politics
According to a report by the Association for Democratic Reforms (ADR), Naidu tops the list of India’s wealthiest Chief Ministers:
- Declared wealth: ₹931 crore
- Wealth is linked to a transparent, audited, and listed company
- Unlike many political figures, not reliant on inherited wealth or opaque assets
Comparison with Other Chief Ministers
Here’s how Naidu compares to other CMs based on declared assets:
- Pema Khandu (Arunachal Pradesh): ₹163 crore
- Naveen Patnaik (Odisha): ₹63 crore
- Arvind Kejriwal (Delhi): ₹3 crore
- Pinarayi Vijayan (Kerala): ₹1.18 crore
- Mamata Banerjee (West Bengal): ₹15.38 lakh (lowest in India)
A Tech-Focused Political Career
Parallel to his business, Naidu’s political journey spans decades:
- Four-time Chief Minister of Andhra Pradesh
- Spearheaded the creation of “Cyberabad” in undivided Andhra Pradesh
- Focuses on AI, quantum computing, and tech-driven manufacturing for state growth
- Returned to power in 2024 after setbacks in 2004 and 2019
Key Highlights
- Heritage Foods started with just ₹7,000 capital
- Now worth over ₹6,755 crore at peak valuation
- Naidu’s wealth is traceable, legal, and corporate-based
- Rare example of a politician building transparent private enterprise
- Contrasts sharply with other CMs with low or unclear asset origins
N. Chandrababu Naidu’s journey from a ₹7,000 startup to a ₹6,755 crore dairy brand stands out in India’s political landscape. While many political figures amass wealth through murky channels, Naidu’s case is a blueprint of transparent entrepreneurship, powered by vision, ethics, and professional management.
