KOCHI, KERALA, INDIA, September 4, 2012 (Times of India): It may not be the best of comparisons, and it does give an unflattering picture of the state’s public sector. If the 42 public sector undertakings in the state together make US$45 million a year in revenues, the four devaswom boards can boast of $180 million in annual revenues.
The richest devaswom is, undoubtedly, Guruvayur Devaswom, followed by Travancore, Malabar and Kochi. Sree Guruvayurappan Temple has total assets worth $450 million and makes about $71 million in both cash and gold annually, according to unofficial estimates.
The Travancore Devaswom Board (TDB), which manages about 1,240 temples, closely follows Guruvayur. It has assets worth roughly $126 million, according to official sources, and has no accurate revenue figures. Of this about 25 temples make money for the upkeep of the rest, topped by Sabarimala hill shrine which rakes in $36 million in annual revenues. This is followed by Chettikulangara Devi Temple that brings in $18 million annually, and Ettumanoor Siva Temple with about $11 million.
“From the $36 million we generate from the Sabarimala temple, $18 million is spent on other temples under the board,” said a TDB official.
Only about 100 temples under TDB can manage on their own. However, assets each temple receives as donations and gifts are kept in safe custody. Gold and silver ornaments, precious stones, and other assets of these temples are kept under double lock and round-the-clock security in strong rooms under 18 sub-groups of the board.