Tirupati’s Venkateswara temple richer than Nestle, Wipro & ONGC with 2.5 lakh crores net worth
Tirupati’s world-famous Lord Venkateswara temple’s net worth of over INR 2.5 lakh crore (about $30 billion) is more than the market capitalization of food and beverage company Nestle, state-owned oil giants ONGC and IOC, and IT services firm Wipro. This is the first time that TTD declared its list of assets since the opening of the temple in 1933.
Venkateswara Temple
The temple is also known by other names like Tirupati Temple, Tirumala Temple, and Tirupati Balaji Temple. Venkateswara is known by many other names: Govinda, Balaji, and Srinivasa.
- Affiliation – Hinduism
- District – Tirupati
- Deity – Venkateswara (Vishnu)
- Festivals – Brahmotsavam, Vaikunta Ekadasi, Ratha Saptami
- Governing body – Tirumala Tirupati Devasthanams
- Location – Tirupati
- State – Andhra Pradesh
- Country – India
- Creator – Veera Narasingadeva Yadavaraya Veera Rakshasa Yadavaraya Ranganatha Yadavaraya
In a white paper released on Sunday (November 6), the temple trust declared that it has 10.33 tonnes of gold worth over INR 5,300 crore and cash deposits of INR 15,938 crore in nationalized banks. TTD also has 2.5 tons of “priceless” antique gold pieces. According to reports, the temple trust has 960 properties spread over 7,123 acres across India.
At the current trading price, the networth of Tirupati temple is more than several blue-chip Indian firms, according to stock exchange data. At the close of trade on Friday (November 4), UltraTech Cement had a market value of INR 1.99 lakh crore, while Bengaluru-based Wipro had a market cap of INR 2.14 lakh crore. Swiss multinational food and drink major Nestle’s India unit, with a market value of INR 1.96 lakh crore, too was valued below it.
State-owned Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) were also valued less than Temple Trust and many others such as power giant NTPC Ltd, the world’s largest coal producer Coal India Ltd, automakers Mahindra and Mahindra and Tata Motors, mining conglomerate Vedanta, real estate firm DLF and others.
The market capitalization of only two dozen companies doing business in India is more than the total assets of the temple trust. These include Reliance Industries Limited, Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever Limited, State Bank of India, Bharti Airtel, and ITC. The temple is dedicated to Venkateswara, a form of Vishnu, who is believed to have appeared on earth to save mankind from the trials and troubles of Kali Yuga.
A temple official said that Tirumala Tirupati Devasthanam (TTD) is growing richer and more prosperous as cash and gold offerings by devotees at the hill shrine continue to rise and fixed deposits in banks are also generating more income in view of the increase in interest rates, a temple official said.
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