Parag Shah: Maharashtra's Richest Contestant with a Net Worth of ₹3,382 Crore – A Peek into His Financial Empire

The billionaires who openly parade their riches are likely to end up on the list for the elections to Maharashtra in 2024. Ghatkopar East Bharatiya Janata Party MLA Parag Shah leads the list with a net worth of ₹3,382 crores. This makes him the richest candidate in the fray. His net worth increased from ₹500 crore in 2019 to more than ₹3,300 crore at present, and there is much interest in his business and investments.

A real estate tycoon and chairman of Man Infra Construction Limited, the fortunes of Shah have soared in the last five years as he emerged as a leading political figure in Maharashtra. His declaration in the election affidavit has included movable and immovable combined assets. Total movable assets come to ₹3,315 crore in his name and ₹1,136 crore in his wife's name. These include bonds, mutual funds, gold, diamonds, and so on.

Apart from the properties, Parag Shah has invested significantly in the financial market. Bonds and mutual funds amounting to ₹2,129 crores indicate his investment. His wife also boasts the same portfolio with an investment of around ₹1,110 crores. Despite these enormous assets, Shah doesn't have any car as mentioned in his affidavit.

Shah's real estate empire includes agriculture and non-agriculture land in Maharashtra and Gujarat along with landed properties in Mumbai and Thane. Outside of Maharashtra, he is dealing with projects in Chennai and Gujarat.

Shah declared ₹25.7 crore for the financial year 2023-24, which is much more than the income in the previous fiscal. The wife declared a higher income at ₹16.3 crore.

Emerging victorious over the 2019 Maharashtra Legislative Assembly seat of Ghatkopar East, Parag Shah is seeking re-election this time against NCP candidate Rakhee Jadhav. With unmatched riches, wide business ties, and strong political muscle, Shah shall remain an important voice in the BJP's poll campaign for Maharashtra.

Shah from a businessman to ₹500 crore to real estate titan and BJP leader standing at ₹3,382 crore is extremely worth mentioning as he has carved out success in Maharashtrian circles of both the political and business spheres.

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