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Tirupati temple richer than Wipro, Nestle, ONGC; net worth over Rs. 2.5 lakh Cr

BNE News Desk


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Tirupati's renowned temple Lord Venkateswara's net worth of over Rs. 2.5 lakh crore (about USD 30 billion) is more than the market capitalisation of IT services firm Wipro, food, and beverage company, Nestle, and state-owned oil giants Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC).

The assets of the temple include 10.25 tonnes of gold deposits in banks, 2.5 tonnes of gold jewellery, about Rs. 16,000 crores of deposits in banks, and 960 properties across India.

According to Stock Exchange data, at the current trading price, the net worth of Tirupati temple is more than several blue-chip Indian firms.

Bengaluru-based Wipro had a market cap of Rs 2.14 lakh crores at the close of trading on Friday, while UltraTech Cement had a market value of Rs. 1.99 lakh crores.

Swiss multinational food and drink major Nestle's India unit, with a market cap of Rs 1.96 lakh crore, too was valued below it.

State-owned oil behemoths Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) too were valued less than the temple trust and so were power giant NTPC Limited, automakers Mahindra and Mahindra, and Tata Motors, the world's largest coal producer Coal India Ltd, mining conglomerate Vedanta, real estate firm Delhi Land & Finance (DLF) and several others.

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BNE News Desk