The market value of only about two dozen companies is more than the net worth of the temple trust.
New Delhi:
Tirupati’s world-famous Lord Venkateswara Temple has a net worth of over Rs 2.5 lakh crore (about USD 30 billion), owned by IT services firm Wipro, food and beverage company Nestle and state-owned Oil and Natural Gas Corporation (ONGC). more than the market capitalization. ) and Indian Oil Corporation (IOC).
Tirumala Tirupati Devasthanam, the keeper of the temple dedicated to the presiding deity of Tirupati, declared his net worth for the first time since its establishment in 1933.
Its assets include 10.25 tonnes of gold deposited in banks. 2.5 ton gold jewelery, about Rs 16,000 crore deposits in banks, and 960 properties across India. All these together amount to more than Rs 2.5 lakh crore.
According to stock exchange data, the total assets of Tirupati Temple is more than many blue-chip Indian companies at current trading prices.
Bengaluru-based Wipro had a market cap of Rs 2.14 lakh crore at the close of trading on Friday, while UltraTech Cement had a market cap of Rs 1.99 lakh crore.
Swiss multinational food and beverage major Nestle’s India arm, which has a market capitalization of Rs 1.96 lakh crore, was valued even lower.
State-owned Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) were also valued less than Temple Trust and so were power giants NTPC Ltd., automakers Mahindra & Mahindra and Tata Motors, the world’s largest. The biggest coal producer was coal. India Limited, mining conglomerate Vedanta, real estate firm DLF and many others.
The market value of only about two dozen companies is more than the net worth of the temple trust.
These include billionaire Mukesh Ambani’s Reliance Industries Limited (Rs 17.53 lakh crore), Tata Consultancy Services (Rs 11.76 lakh crore), HDFC Bank (Rs 8.34 lakh crore), Infosys (Rs 6.37 lakh crore), ICICI Bank (Rs 6.31 lakh crore). Are included. , Hindustan Unilever Limited (Rs 5.92 lakh crore), State Bank of India (Rs 5.29 lakh crore), Bharti Airtel (Rs 4.54 lakh crore) and ITC (Rs 4.38 lakh crore).
A temple official said that Tirumala Tirupati Devasthanam (TTD) is growing richer and prosperous as cash and gold offerings by devotees at the hill shrine continue to rise and fixed deposits in banks also in view of the hike in interest rates. generating more income, said a temple official.
The assets owned by the TTD include land parcels, buildings, cash and gold deposits in banks, which are given as prasad to the temple by the devotees.
The temple authorities said that it may be misleading to value priceless antique jewelery and properties including cottages and guest houses on seven hills to provide facilities to the devotees and hence not part of the estimated normal property value.
The huge seven hills are considered sacred by the devotees and are revered as the abode of Lord Venkateswara. In its nearly Rs 3,100 crore annual budget for 2022-23 presented in February, TTD has projected over Rs 668 crore as interest income from cash deposits in banks. In addition, the hundi of the hill temple was estimated to have an income of Rs 1,000 crore in the form of cash offerings by around 2.5 crore devotees alone.
TTD operates a large number of temples in Andhra Pradesh, Tamil Nadu, Telangana, Odisha, Haryana, Maharashtra and New Delhi.
Featured Video of the Day
On camera: Bear attack in Tamil Nadu forest area, 3 injured