E-auction fetches TTD Rs 30 cr addl revenue

The maiden e-auctioning of human hair has fetched the Tirumala Tirupati Devasthanams (TTD) an additional revenue of Rs 30 crore, an increase of 27 per cent over the previous bid amount.

TTD, which manages the affairs of the Tirumala deity Lord Venkateshwara, had realised a total of Rs 133 crore this time by selling 465,000 kg of human hair of various grades.

As many as 49 bidders from across the country took part in the e-auctioning held on Thursday, TTD financial adviser and chief accounts officer, LV Bhaskara Reddy, stated in a press release.

Reddy said the TTD took the e-auction route for the first time to avoid any manipulation of the price by some of the bidders who earlier used to form a ring and submit lower bids.

A large number of male and female devotees of Sri Venkateshwara tonsure their heads and give their hair as an offering to the Lord. TTD collects this hair, segregates it into different grades and auctions it annually.

Human hair is stated to be utilised for various purposes including production of some amino acids.