BJP's Hyderabad candidate Madhavi Latha declares assets worth Rs 221 crore

BJP's candidate for the Hyderabad Lok Sabha seat, Kompella Madhavi Latha, Chairperson of Virinchi Hospitals, has declared assets that make her one of the richest candidates in Telangana.
Madhavi Latha
Madhavi Latha
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BJP's candidate for the Hyderabad Lok Sabha seat, Kompella Madhavi Latha owns family assets of Rs 221 crore, making her one of the richest candidates in Telangana. She and her husband Kompella Viswanath – both business persons – and their three dependent children, have movable assets of Rs 165.46 crore and the couple has immovable assets of Rs 55.91 crore. Viswanath is the founder of Virinchi Hospitals, and Madhavi Latha is its chairperson. 

Madhavi Latha revealed details of the family assets in an affidavit submitted to the Election Commission on Wednesday, April 24, while filing her nomination. The 49-year-old, who resides in the twin city of Secunderabad, recently joined the BJP and is making her electoral debut.

She declared that she has movable assets of Rs 31.31 crore including investment of Rs.25.20 crore in listed and unlisted companies. She has investments of Rs 7.80 crore in Virinchi Ltd. She also owns gold jewellery worth Rs 3.78 crore.

Her husband has movable assets of Rs 88.31 crore including shares worth Rs 52.36 crore in Virinchi Ltd. Their three dependent children also own total movable assets of over Rs 45 crore.

The BJP candidate also owns immovable assets of Rs 6.32 crore while the value of her husband’s immovable assets is Rs 49.59 crore.

The assets include non-agriculture land and commercial and residential buildings in and around Hyderabad.

Madhavi Latha has liabilities of Rs 90 lakh while her husband’s liabilities stand at Rs 26.13 crore. Her income during 2022-23 was Rs 3.76 lakh while it was Rs 1.22 crore during 2021-22.

Viswanath’s income during 2022-23 was Rs 2.82 crore while the same was Rs 6.86 crore during 2021-22.

The BJP candidate faces one criminal case. The case was registered against her last week at Begum Bazar Police Station under Indian Penal Code (IPC) section 295-A. The allegation against her is that she made a gesture of drawing an imaginary arrow and shooting at the Masjid located at the circle of Siddi Amber Bazar.

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