DSR group under scanner: Income Tax department conducts raids across Hyderabad

Hyderabad: In a major crackdown, the Income Tax Department launched extensive raids on the premises of DSR Group, a prominent real estate developer in South India, headquarters based in Hyderabad and Congress leader and former Member of parliament G Ranjith Reddy early this morning. Simultaneous searches were carried out at around 10 locations across Hyderabad, including the residences of the company’s directors, following allegations of tax evasion.

The raids began at dawn, with tax officials targeting multiple properties linked to DSR Group. Preliminary reports suggest that investigators have uncovered financial irregularities during the searches. However, the exact scale of the discrepancies is yet to be officially confirmed.

Founded in 1988, DSR Group is a key player in real estate. It has major projects in Hyderabad, Bengaluru, and Chennai. The company specializes in luxury homes, villas, gated communities, and corporate offices, known for its high-end construction and architectural excellence.

Devireddy Sudhakar Reddy i the Managing Director of DSR Infrastructure Pvt Ltd, heads the group, which has rapidly expanded its footprint in South India’s real estate market.

The Income Tax Department acted after getting tips about possible tax evasion. Officials haven't shared specific details, but sources say the investigation targets alleged financial wrongdoings.