The Tirumala Tirupati Devasthanams (TTD) has recently generated ₹1.34 crore from the sale of scrap materials stashed at its Department of Public Works (DPW) stores in Tirupati.
With a budget outlay of more than ₹3,000 crore per annum, the TTD spends more than ₹250 crore on various engineering (capital) works and around ₹95 crore on maintenance works annually.
e-auction
The TTD has more than three dozen temples and many educational institutions and hospitals under its fold. The scrap material collected from these institutions and other departments are temporarily stored at its DPW godowns and are auctioned through A.P. e-auction Konugolu web portal.
This time, TTD categorised the scrap material into four major lots and fixed the upset price for each lot. The TTD was surprised at the response it received for its scrap as the prices quoted by the bidders were nearly the double of the upset prices.
The highest bid of ₹38.49 lakh was received for the Iron and civil scrap (excluding taxes) against the upset price of ₹17.87 lakh. The scrap related to water works fetched ₹61.53 lakh when compared to the upset price of ₹20.36 lakh and furniture scrap generated ₹31.21 lakh against the upset price of ₹16.93 lakh. The dead furniture stock brought it another ₹2.70 lakh.
In accordance to the tender conditions, the bidders who quoted the highest prices also agreed to pay the mandatory GST at 18% and income tax at 1% .
