TTD Scales Financial High With Record Rs 1,161 Cr FDs in FY-2023-24

 Tirupati: Tirumala Tirupati Devasthanams (TTD), the governing body of the world-renowned Sri Venkateswara Swamy temple atop Tirumala Hills, has set new financial records in the fiscal year 2023-24. The temple trust has made its highest ever fixed deposits of Rs 1,161 crore and received a staggering 1,031 kg gold offering worth around Rs 773 crore from devotees during the fiscal.

According to sources, the trust has parked Rs 1,161.08 crore in fixed deposits during 2023-24 - eclipsing its previous highest of Rs 1,153.26 crore set in 2015-16. The TTD's cumulative fixed deposits across banks stand at Rs 13,287.62 crore as of March 31.

Over the past 12 years, from 2013 to 2024, barring the Covid-impacted years of 2021 (Rs 270 crore) and 2022 (Rs 274 crore) along with 2019 (Rs 285 crore), TTD has consistently made fixed deposits exceeding Rs 500 crore annually - Rs 608 crore (2013), Rs 970 crore (2014), Rs 961 crore (2015), Rs 1,153 crore (2016), Rs 774 crore (2017), Rs 501 crore (2018), Rs 753 crore (2020) and Rs 757 crore (2023).

Meanwhile, various trusts of TTD amassed Rs 5,529.51 crore from devotee contributions till March 31. The interest earnings from them amount to over Rs 1,600 crore per annum. Now the total investments, including fixed deposits and donations received to various trusts together have reached Rs 18,817.13 crore as on March 31,2024.

The sacred hill temple premises were also showered with gold offerings touching new peaks in 2023-24. TTD made its highest ever yearly gold deposit of 1,031.30 kg worth approximately Rs773 crore in just 2023 from 'hundi' donations. With this bullion bounty, the temple body's cumulative gold reserves have swelled to 11,329.67 kg, valued at over Rs 8,400 crore at current rates.

“These financial figures have been made possible by the seemingly endless flow of offerings from devotees into the sacred 'hundi'. On average, the temple receives Rs 1,600 crore in cash donations every year, with monthly cash 'hundi' collections routinely exceeding Rs 100 crore. After meeting all expenditures, the surplus amounts are invested in scheduled banks”, said a senior TTD official.

Fixed deposits with banks:

Up to March 31,2023

Fixed deposits: Rs 12,126.54 crore

Trust: Rs 4,670.84 crore

Total: Rs 16,797.38 crore

Investment during FY 2023-24

Fixed deposits: Rs 1,161.08 crore

Trust: Rs 858.67 crore

Total: Rs 2,019.75 crore

Total investment as on March 31,2024

Fixed deposits: Rs 13,287.62 crore

Trust: Rs 5,529.51 crore

Total: Rs 18,817.13 crore

TTD’s gold investments with banks Up to March 31,2023: 10,298.37 kg

Investment during FY 2023-24: 1,031.30 kg

Total investment as on March 31,2024: 11,329.67 kg

1,031 kg gold takes cumulative gold reserves to 11,329.67 kg