Have you ever wondered who the uber-rich of Vizag are? A few months ago, Hurun India Rich List 2024 released a ranking of 1,539 people across India with a net worth exceeding Rs 1,000 crore.
Gautam Adani made headlines as he replaced Mukesh Ambani as the richest man in India with a calculated wealth of Rs 11.6 lakh crore. Additionally, Shah Rukh Khan caused a buzz for having entered the list for the first time. It’s noteworthy that four individuals residing in Vizag also made the list. On that note, have a look at the richest people in Visakhapatnam in 2024:
1. P Brahmanandam and Family
- Rank: 472
- Company: Devi Sea Foods
- Wealth in 2024: Rs 5,900 crore
P Brahmanandam, the Chairman and Managing Director of Devi Sea Foods, is a first-generation entrepreneur who transformed the seafood industry by offering value-added shrimp products for competitive prices for the first time on India’s east coast.
He is supported by his daughters, Rama Devi and Naveena, who play key roles in expanding the business, particularly in product development and sustainability initiatives.
The family’s rank in the Hurun Rich List is shared with Bipin Preet Singh and Upasana Taku of MobiKwik. In 2023, Brahmanandam’s wealth as recorded in the 360 ONE Wealth Hurun Rich List was Rs 3,700 crore.
2. Venkateswara Prasad Kondragunta and Family
- Rank: 680
- Company: Sandhya Marines
- Wealth in 2024: Rs 3,700 crore
Venkateswara Prasad, Chairman and Managing Director of Sandhya Marines Ltd, has been with the company since 1987. With over 30 years of experience in seafood processing and exports, Prasad’s leadership has helped the company expand its operations to over 25 countries, supplying shrimp to major markets like the United States.
He is also involved in several other ventures, including Pinnacle Hospitals and Star Pinnacle Heart Centre.
In 2023, his net worth was Rs 1,700 crore, according to the 360 ONE Wealth Hurun Rich List.
3. Muppana Venkata Rao and Family
- Rank: 946
- Company: M Venkata Rao Infra Projects
- Wealth in 2024: Rs 2,400 crore
Muppana Venkata Rao is the Chairman of M Venkata Rao Infra Projects, a company specializing in infrastructure construction such as highways, airports, and bridges.
Rao has been with the company since 1964 and is also recognised for his philanthropic contributions to social causes, including education and community support.
He runs the business alongside his family members, including Managing Director Muppana Ramakrishna Prasad Rao and Executive Directors Venkat Muppana and Pratik Vasprad Muppana.
The family’s wealth was recorded to be Rs 1,000 crore in the 2023 360 ONE Wealth Hurun Rich List.
4. Nekkanti Seetha Ramachandra Murthy and Family
- Rank: 1,267
- Company: Nekkanti Sea Foods
- Wealth in 2024: Rs 1,600 crore
Nekkanti Seetha Ramachandra Murthy founded Nekkanti Sea Foods, one of India’s largest shrimp exporters. The company currently operates five shrimp-processing facilities and partners with top global seafood companies.
Murthy’s son, Venkat Nekkanti, is currently the Managing Director of the company.
Nekkanti’s wealth in 2023 stood at Rs 1,000 crore, and they currently share the rank with Sanjay B Shah and Vijay B Shah, owners of JB and Brothers.
While these are the richest people in Visakhapatnam, five others from the Telugu state of Andhra Pradesh made the Hurun India Rich List 2024. Namely: M Visweswara Reddy from Kadapa, Ramachandra N Galla and family from Tirupati, and Praveenkumar Otmal Jain, Sriharsha Reddy Majety, and Ram Kripal Singh from Vijayawada.
Disclaimer: The rankings and data have been taken as reported in the Hurun India Rich List 2024.
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