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Makarand Narwekar, the BJP candidate from Ward 226 in Colaba, has been hogging the limelight for his declared assets worth Rs 124.4 crore, making him the richest candidate in the ongoing election. His net worth saw a staggering 1,900% rise from his 2012 assets of Rs 3.67 crore.
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Updated : Jan 16, 2026, 12:53 PM IST
 "Maharashtra BMC Elections 2026: Who is Makarand Narwekar, Mumbai’s richest candidate? BJP leader has assets worth Rs 124.4 crore")
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The Brihanmumbai Municipal Corporation (BMC) elections results for 2026 are being declared today, January 16, 2026, with the counting of votes underway at 23 centres across Mumbai. The ward-wise results and the performance of specific parties are constantly highlighted as the winner list is announced. Early trends show the BJP-led Mahayuti alliance leading in 56 seats, with Shiv Sena (UBT) trailing behind. Amid this, Makarand Narwekar, the BJP candidate from Ward 226 in Colaba, has been hogging the limelight for his declared assets worth Rs 124.4 crore, making him the richest candidate in the ongoing election. His net worth saw a staggering 1,900% rise from his 2012 assets of Rs 3.67 crore.
Who is Makarand Narwekar?
Makarand Narwekar is a prominent Bharatiya Janata Party (BJP) politician and the younger brother of Rahul Narwekar, the Speaker of the Maharashtra Legislative Assembly. His sister-in-law, Harshita Narwekar, is also a former municipal councillor. He declared assets worth Rs 124.4 crore in his 2026 election affidavit, with his impressive portfolio including 27 agricultural land parcels in Alibaug and a luxury flat in Colaba. While his movable assets are worth Rs 32.14 crore, his immovable assets are worth Rs 92.32 crore. He also has liabilities amounting to Rs 16.68 crore in the form of loans, borrowings, and unsecured loans from various individuals, banks, and financial institutions. In the 2017 municipal election, his assets were worth Rs 6.3 crore. When he first contested the civic elections in 2012 as an independent candidate, his assets were worth Rs 3.67 crore.
Professionally, Narwekar is an advocate who is an active real estate investor. He completed his Bachelor of Commerce - BCom from Sydenham College of Commerce and Economics and earned Lan LB degree from Government Law College, Mumbai.
BMC polls 2026
Early trends being reported from the counting of votes in the Brihanmumbai Municipal Corporation (BMC) elections on Friday showed the BJP–Shiv Sena Mahayuti alliance leading in 93 wards, while Shiv Sena (UBT) and MNS alliance trailed with 57 leads, off these the UBT Sena leads in 48 the MNS in 8 and the NCP-SP in 1 seat.
