Tirupati Temple's New Worth Greater Than Nestle, Wipro, UltraTech Cement

Tirupati's world famous Lord Venkateswara temple's net worth is Rs 2.5 lakh crore, according to official sources. The temple's assets includes land parcels, buildings, cash, and gold deposits in the banks, given as offerings to the temple by devotees. On Saturday, 5 November, Tirumala Tirupati Devasthanams (TTD), the trust that oversees the ancient hill shrine, released a list of its assets, including fixed and gold deposits. The temple's net worth is, in fact, greater than the market capitalisation of IT services company Wipro, FMCG giant Nestle, the Oil and Natural Gas Corporation (ONGC) and the Indian Oil Corporation (IOC).What do its assets include? And which companies have a higher evaluation than the temple trust's net worth. The Quint answers all these questions below. Don’t Sack Non-Hindus Working in Tirumala, Hyderabad HC Tells TTDThe TTD's assets include 10.25 tonnes of gold deposits in banks, 2.5 tonnes of gold jewellery, about Rs 16,000 crore of deposits in banks, and 960 properties spread over 7,123 acres across India. The combined value of all these assets is over Rs 2.5 lakh crore. AV Dharma Reddy, TTD executive officer told The Times of India that the net worth of the temple trust has gone up to Rs 2.26 lakh crore. "TTD’s investments in the form of fixed deposits in various banks in 2019 was 13,025 crore, which has now increased to 15,938 crores. In the last three years, the investment increased by 2,900 crores,” said Reddy.The temple authorities also declared that the present trust board has strengthened its investment guidelines since 2019. It also denied social media reports that alleged that the TTD chairman and the board decided to invest the surplus funds in the Securities of the Andhra Pradesh government. No, Tirupati Temple Priest Didn't Say Donations Were Used for Other CommunitiesThe TTD's fixed deposits with several public sector undertakings and private banks have as on 30 September crossed Rs 15,938 crore as against Rs 13,025 crore in June 2019. The TTD had 7.3 tonnes of gold deposits in 2019. It has gone upto 10.25 tonnes as of 30 September 2022. In its around Rs 3,100 crore annual budget for 2022-23 presented in February, the TTD projected over Rs 668 crore as income from interest from cash deposits in banks. The temple trust predicted that it would earn Rs 1,000 crore in the form of cash offerings alone by devotees in the hundi of the hill temple.Internal Rift Between Tirumala’s Head Priest, TTD ChiefAccording to stock exchange data, the net worth of TTD is more than several blue-chip Indian companies.IT firm Wipro had a market value of Rs 2.14 lakh crore at close of trading on Friday, 4 November UltraTech Cement had a market cap of Rs 1.99 lakh croreFMCG giant Nestle India unit, with a market cap of Rs 1.96 lakh crore, too was valued below it.State-owned oil firms Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC), NTPC Ltd, auto manufacturers Mahindra and Mahindra and Tata Motors, world's largest coal producer Coal India Ltd, mining conglomerate Vedanta, real estate company DLF and several others, were valued below the temple. No, This Video Doesn't Show Cattle Being Washed Away Due to Rain in TirupatiAbout 24 firms have a market valuation larger than the temple trust's net worth. They include:Mukesh Ambani's Reliance Industries Ltd at Rs 17.53 lakh crore HDFC Bank at Rs 8.34 lakh croreTata Consultancy Services at Rs 11.76 lakh croreInfosys at Rs 6.37 lakh croreICICI Bank at Rs 6.31 lakh crore Hindustan Unilever Ltd at Rs 5.92 lakh crore State Bank of India at Rs 5.29 lakh croreBharti Airtel at Rs 4.54 lakh croreITC at Rs 4.38 lakh croreHere's Why Nayanthara's Tirupati Temple Visit Courted Controversy

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Explained | How Is Tirupati Temple Richer Than Nestle, Wipro, and Other Giants?

The temple's net worth is over Rs 2.5 lakh crore, according to an official statement.