Parag Shah, the BJP MLA from Ghatkopar East, is the wealthiest candidate in the upcoming Maharashtra Assembly elections with a staggering net worth of ₹3,382 crore. His wealth has surged significantly, from ₹500 crore in 2019 to over ₹3,300 crore in 2024, thanks to his success in real estate and other investments.
Real Estate Mogul and Investments
A real estate developer and the owner of Man Infra Construction Limited, Shah’s assets are largely tied to his business ventures. His movable assets amount to ₹3,315 crore, with a notable portion coming from bonds, mutual funds, and investments. Additionally, Shah has gold, silver, and diamonds worth ₹3.52 crore. His immovable assets, including agricultural land, residential and commercial properties, total ₹33.36 crore.
Rapid Financial Growth
Shah’s assets have grown nearly sixfold in the last five years. In FY 2023-24, he earned ₹25.7 crore, while his wife reported an income of ₹16.3 crore. His combined wealth and significant financial growth make him a standout figure in the state elections.
No Vehicles, Yet Substantial Real Estate Holdings
Surprisingly, Shah and his wife do not own any cars but have substantial real estate holdings across Mumbai, Thane, and even Gujarat. His company also has major projects in these regions. Despite the lack of luxury cars, his real estate empire and financial assets clearly reflect his success.
Political Career
Shah won the Maharashtra Legislative Assembly seat from Ghatkopar East in 2019 with a margin of 53,319 votes, and he is contesting again in the 2024 elections. His financial ascent over the last few years underscores his growing influence both in business and politics.
