Tirupati Balaji temple declares assets, is richer than Nestle, Wipro and more companies

World famous Lord Venkateswara temple situated in southern Indian city of Tirupati has declared its net worth for the first time since its founding in 1933. It has emerged that the temple's net worth is more than market capitalisation of companies like Nestle, Wipro, ONGC and IOC.

Net worth of the temple is USD 30 billion!

The assets include 10.25 tonnes of gold, 2.5 tonnes of gold jewellery, about USD 1.95 billion of bank deposits. The temple also has 960 properties across India.

At current trading price, the net worth of Tirupati temple is more than several blue-chip Indian firms, according to stock exchange data.

Bengaluru-based Wipro had a market cap of USD 2.6 billion at close of trading on Friday.

Swiss multinational food and drink major Nestle's India unit has a market cap of USD 2.3 billion.

Tirumala Tirupati Devasthanam(TTD) is growing richer and richer as the cash and gold offerings made by devotees at the hill temple continue to rise and fixed deposits in banks are also generating more income in view of increase in interest rates, a temple official said.

The assets owned by TTD include land parcels, buildings, cash and gold deposits in the banks, given as offerings to the temple by devotees.

Assigning a value to priceless antique jewellery and properties including cottages and guest houses on the seven hills to provide amenities to devotees could be misleading and hence does not form part of the estimated general asset value, temple officials said.

The sprawling seven hills are held sacred by devotees and are revered as the abode of Lord Venkateswara.

(With inputs from agencies)

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