According to sources here on Sunday, the assets owned by the Tirumala Tirupati Devasthanams (TTD), the governing body of the ancient hill temple of Lord Venkateswara at Tirumala, exceed Rs 2.5 lakh crore.
In light of the increase in interest rates, the TTD is becoming richer and richer as the cash and gold offerings made by devotees at the hill temple have continued to increase. At the same time, fixed deposits in banks are also generating more income, according to a temple official.
According to sources within the governing body, the approximate value of assets owned by the Tirumala Tirupati Devasthanams across the country is over Rs 2.5 lakh crore. In addition to land parcels, buildings, and gold deposits in banks, devotees may offer these items as offerings to the temple.
Assigning a value to priceless antique jewellery and properties, such as cottages and guest houses, located on the seven hills for the purpose of providing amenities to devotees may be misleading and therefore is not included in the estimated, general asset value, they stated. Lord Venkateswara is revered as the abode of the sprawling seven hills, held sacred by devotees.
As of September 30, 2022, the TTD’s fixed deposits with several public and private banks have reached Rs 15,938 crore, a record high as compared with Rs 13,025 crore in June 2019. Devasthanam gold deposits in banks have also increased rapidly from 7.3 tonnes in 2019 to 10.25 tonnes as of September 30, 2022.
During the presentation of its budget for 2022-23 for about Rs 3,100 crore, the TTD projected income in the form of interest on cash deposits in banks of over Rs 668 crore. Approximately 2.5 crore devotees are expected to make cash offerings in the hundi of the hill temple, generating an income of Rs 1,000 crore.
The TTD is receiving a good income on the 10.25 tonnes of gold deposited recently with the SBI and Indian Overseas Bank. There are approximately 9.8 tonnes of gold deposits held by the SBI alone. Tirumala Tirupati Devasthanams manages a number of temples in Andhra Pradesh, Tamil Nadu, Telangana, Odisha, Haryana, Maharashtra and New Delhi, with over 900 immovable properties.