Ursa is Nara Lokesh’s Benami Company - Margani Bharat

Rajamahendravaram, April 28: The YSRCP has strongly criticized the TDP-led coalition government, accusing it of being involved in a massive land scam. They allege that public land worth ₹3,000 crore was handed over to Ursa Clusters, a company believed to be a front for Minister Nara Lokesh. Speaking to the media in Rajamahendravaram, former MP Margani Bharat called it a carefully planned conspiracy, saying the government has betrayed the people of Andhra Pradesh by giving away valuable land at extremely low prices to a shady company.

"Ursa was created just to loot public property. The silence of Chief Minister Chandrababu Naidu, Nara Lokesh, and Deputy Chief Minister Pawan Kalyan shows they are all involved in this ₹3,000 crore scam," Bharat said.

Ursa Clusters was set up in the U.S. on September 27, 2024, just before Lokesh’s visit there in October 2024. The company was started by NRIs Kaushik Pendurthi and Satish Abburi, who were previously linked to failed businesses. Its Indian arm, India Ursa Clusters Private Limited, was formed on February 12, 2025, and operates from a small apartment in Hyderabad and a modest home in the U.S.

Despite having no track record, the TDP-led government rushed to approve the allocation of ₹3,000 crore worth of land to Ursa at just ₹50 lakh per acre. In comparison, institutions like LIC, RBI, and SBI paid ₹4 crore per acre for similar land in cities like Visakhapatnam and Amaravati, and even the Indian Army paid ₹1 crore per acre. Bharat questioned, "Why was land in Visakhapatnam’s Kapuluppada, valued at ₹30,000 per square yard, sold to Ursa for just ₹50 lakh per acre? Why show such favoritism to a company with no experience?"

Bharat also pointed out that this isn’t the first time the TDP has been involved in shady land deals. In 2015, Lokesh’s brother-in-law, who is related to Visakhapatnam MP Bharat, got 498 acres of land in Krishna district at just ₹1 lakh per acre, even though the market value was ₹1 crore per acre — leading to a loss of ₹498 crore.
He also recalled how Chandrababu Naidu once tried to hand over 400 acres of land in Shamshabad to IMG Bharat, linked to his close aide Billy Rao, but the deal was stopped by Y.S. Rajasekhara Reddy's government.

Bharat challenged the government, asking, "How did a two-month-old company like Ursa, with a history of failed ventures, get such valuable land without any serious background check?"

Adding to the controversy, Bharat revealed that the coalition is also trying to give away thousands of acres of APIIC and government land in Nakkapalli to ArcelorMittal for setting up a steel plant and port. He said this violates the 1894 and 2013 Land Acquisition laws, which prioritize public sector projects over private ones. A former Union Secretary, Sharma, had even written to the Andhra Pradesh Chief Secretary demanding clarity on this deal, but the government hasn't responded.

"While the people of Visakhapatnam are fighting to save the Visakhapatnam Steel Plant, this government is more interested in selling off land to private companies," Bharat said.

The YSRCP is demanding a full CBI investigation into both the Ursa land deal and the Nakkapalli land allocations. They want Naidu, Lokesh, and others held accountable. They also urged the people of Andhra Pradesh to stand up against the misuse of public resources.

"If this government is honest, let them explain why a shell company like Ursa is being given land worth billions," Bharat concluded.
YSRCP said it will continue to fight to protect the state’s resources and ensure justice is served.