Heritage Foods was my first successful venture after three failures, says Chandrababu Naidu

Chief Minister N. Chandrababu Naidu recalled that he was an entrepreneur himself during his formative years as a politician, as the founder of Heritage Foods Limited (HFL), and said his ambitions were shattered by a string of failures before that, but he was not shaken.

Citing his experience at the inaugural of the Ratan Tata Innovation Hub (RTIH) at Mangalagiri on Wednesday, Mr. Naidu said he had floated three companies before taking the plunge into politics, but had to wind up all of them due to the vagaries of the market.

But, the fourth one, the HLF, turned out to be a grand success from its humble origins in Chittoor district, and there had been no looking back after the company went public with a 55x subscription of its IPO, Mr. Naidu noted, saying that the credit for it went in large part to his wife Bhuvaneswari and daughter-in-law Brahmani.

“I was at the helm of the company affairs only for a few months, after which my wife and Ms. Brahmani took the reins, as myself and Lokesh have been into politics full-time. It is a matter of pride for me that today Heritage has business in 12 States and its annual turnover is around ₹5,000 crore,” he observed.