HYDERABAD: The iconic 21-kg Balapur Ganesh laddu fetched an all-time record price of Rs 39 lakh at its annual open auction held on Friday, with Sama Praneeth Reddy of Urban Realty Group, Saheb Nagar, emerging as the successful bidder.
The price is Rs 4 lakh higher than last year's auction, when Lingala Dasrath Goud bought the laddu for Rs 35 lakh.
The latest bid is the highest recorded in the 32-year history of the auction, which has attracted widespread attention across Telangana and Andhra Pradesh over the years.
The auction was conducted at the Balapur temple around 11.12 am and concluded in less than 15 minutes. The bidding began at Rs 1,116 and quickly crossed last year's Rs 35 lakh mark before Praneet Reddy emerged the winner.
The successful bidder paid the entire amount on the spot.
Nine participants, including representatives of five companies, registered for the auction. Several bidders were from outside the locality, including one participant from London.
Each participant had to deposit Rs 35 lakh in advance, equivalent to last year's auction price, under the rules introduced by the Balapur Ganesh Utsav Committee (BGUS) two years ago.
The advance-deposit rule has reduced the number of participants compared to earlier years. Previously, local bidders were given a year to pay the auction amount, but participants can now enter the auction only after depositing the prescribed amount and registering their names. Although some bidders were reportedly willing to go beyond Rs 39 lakh, the committee declared the winner without giving much time for auction to continue. The BGUS has been following a practice of restricting the annual increase in the auction price to around Rs 3 lakh to Rs 5 lakh.
The auction, organised by the Samithi since 1994, was witnessed by large crowds, with people gathering on roads and rooftops of multi-storeyed buildings around the temple. The 21-kg laddu was neatly packed in a silver bowl covered with gold foil.
The Balapur laddu has grown from a local prasadam into one of the major attractions of the city's Ganesh festivities. Devotees and bidders believe that possessing the sacred laddu brings good luck and prosperity.
According to BGUS members, the auction proceeds are utilised for temple and village development works and welfare activities, particularly in the education sector.
The committee said funds raised in previous auctions had been spent on various developmental works in Balapur. The auction also marked the beginning of the centralised Ganesh immersion procession from Balapur.
The idol procession, which draws large crowds along the city's roads, covers nearly 18 km before reaching Hussainsagar, where the immersion takes place at night.