K. Madhavi Latha, the Bharatiya Janata Party (BJP) candidate for the Hyderabad Lok Sabha constituency, has recently gained significant attention in the political realm of the city. With her recent declaration of family assets and submission of nomination papers for the forthcoming election on May 13, she has marked her presence prominently.
In her recent election affidavit, Madhavi Latha disclosed her family’s substantial wealth, totaling a staggering Rs 218.38 crore in movable and immovable assets. Among these assets are 2.94 crore shares of Virinchi Ltd, valued at Rs 94.44 crore, reflecting substantial investments made by her family. Her husband, Vishwanath Kompalle, an alumnus of IIT Madras and the founder of a fintech and healthcare company, further enriches their financial standing.
Breaking down her personal assets, Madhavi Latha declared movable assets of Rs 31.31 crore, including substantial investments of Rs.25.20 crore in listed and unlisted companies, with an additional Rs 7.80 crore invested in Virinchi Ltd. She also possesses gold jewelry valued at Rs 3.78 crore.
Her husband’s movable assets stand at Rs 88.31 crore, with shares worth Rs 52.36 crore in Virinchi Ltd. Their three dependent children collectively own movable assets exceeding Rs 45 crore.
In addition to movable assets, Madhavi Latha and her husband possess immovable assets amounting to Rs 6.32 crore and Rs 49.59 crore, respectively. These include non-agricultural land and various residential and commercial properties in and around Hyderabad.
Despite their substantial wealth, Madhavi Latha acknowledges liabilities totaling Rs 90 lakh, while her husband’s liabilities amount to Rs 26.13 crore. Their income for the fiscal year 2022-23 stood at Rs 3.76 lakh for Madhavi Latha and Rs 2.82 crore for Vishwanath, reflecting a significant financial stature
However, Madhavi Latha’s political journey is not devoid of challenges. She faces a criminal case registered against her under IPC section 295-A, alleging an inappropriate gesture made towards a Masjid. Despite this hurdle, her candidacy symbolizes a significant shift in Hyderabad’s political landscape, showcasing the emergence of new faces with substantial financial backgrounds.
