Lord Venkateshwara’s temple in the sprawling seven hills of Tirupati receives massive footfall every year with millions of pilgrims coming to take the blessings of the deity.
Tirumala Tirupati Devasthanam (TTD) also manages a large number of temples in Andhra Pradesh, Tamil Nadu, Telangana, Odisha, Haryana, Maharashtra and New Delhi.
The temple has recently been found to be receiving a colossal wealth of offerings as well. In fact the net worth of the temple stands to compete with the market value of some renowned companies.
Money Contest
The net worth of the temple was announced for the first time since its establishment in 1933. It has been calculated to be ₹2.5 lakh crore (about USD 30 billion). Its assets include 10.25 tonnes of gold, 2.5 tonnes of gold jewelry, approximately ₹16,000 crore of deposits in banks, and 960 properties spread across India.
Considering current trading prices, such a colossal net worth sets the temple’s value above several blue-chip Indian firms. For instance, Wipro recorded a market cap of ₹2.14 lakh crore, while UltraTech Cement sported a market value of ₹1.99 lakh crore. Nestle’s India unit recorded a market cap of ₹1.96 lakh crore, also lower than the temple’s value.
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Oil and power companies also could not keep up with the temple’s net worth. For instance Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC), NTPC Limited, Mahindra, and Tata Motors. The world’s largest coal producer Coal India Ltd also lags behind Tirupati.
Unending Riches
Assets owned by Tirumala Tirupati Devasthanam (TTD) include offerings, land parcels, cash, buildings, and gold deposits in banks. Presently TTD is accumulating more wealth with a rise in the offerings of cash and gold made by devotees.
Additionally, the fixed deposits in banks are making more income in view of an increase in interest rates, as pointed out by a temple official.
The temple’s annual budget for 2022-23 was valued at ₹3,100 crores. It predicted various avenues of income in the following year. For example, ₹668 crores are expected in the form of interest from cash deposits in banks, and ₹1,000 crores from cash offerings by about 2.5 crore devotees.
Disclaimer: This article is fact-checked
Sources: Live Mint, Business Today, The Economic Times
Image sources: Google Images
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This post is tagged under: temple net worth more, tirupati temple richer than wipro, temple richer than nestle, tirupati net worth higher than big companies, lord venkateshwara temple, ongc, mahindra, ioc, wealth from offerings, Tirumala Tirupati Devasthanam
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