IIT Madras receives Rs 10 crore from TTK Prestige to establish an endowment

NEW DELHI: Indian Institute of Technology (IIT) Madras is going to establish an endowment and has received 10 crore from TT Jagannathan, chairman of TTK Prestige, for it. The interest from the endowment will be used to support new research pursuits by IIT Madras students and faculty, as per a statement from IIT Madras.

Jagannathan is the alumnus of 1970 batch of IIT Madras and chairman of TTK Prestige, an Indian business conglomerate with a presence across several segments of the industry including kitchen appliances, consumer durables, pharmaceuticals and supplements, bio-medical devices, and healthcare services.

“In recognition of his achievements and to commemorate his contributions to the business world, IIT Madras announced that an auditorium is being named after Jagannathan,” the statement from IIT Madras said.

“The ICSR Auditorium is all set to become the hub for the nodal activities of IIT Madras,” IIT Madras added in the statement.

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Jagannathan, chairman of TTK Prestige said: ‘I have the highest regard for my alma mater, where I enjoyed many rewarding years. IIT Madras has established a reputation of being a hub of research and innovation. I am delighted to contribute in a small way to help IIT Madras to further its pursuit of research...I would like to extend my gratitude to the institute for bestowing me with the honour of naming an auditorium after me.’’

Bhaskar Ramamurthi, director of IIT Madras said: “Our distinguished alumnus and pioneer of Indian industry T T Jagannathan has been a very generous supporter of his Alma Mater. We are honoured that our Auditorium will be carrying his name. He is a role model for our students and budding entrepreneurs.”

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