Hyderabad's famous Balapur Ganesh laddu was auctioned for a record Rs 39 lakh on Friday.
City-based entrepreneur S. Praneet Reddy bought the 21-kg laddu this year in an open auction held before the traditional Ganesh immersion procession from Balapur on the southern fringes of Hyderabad.
Last year, the Balapur 'laddu' was auctioned for Rs 35 lakh.
Eight people participated in the open auction bid for the laddu, which they believe brings good luck.
The annual auction of the 'laddu' in Balapur village marks the beginning of the Ganesh immersion procession, which passes through various parts of the city to reach Hussain Sagar Lake.
Balapur ‘laddu’ has its own significance in the festivities. The organisers say Balapur Ganesh has 45-years-long history, but the tradition of auctioning the ‘laddu’ began in 1994.
According to auction organiser Balapur Ganesh Utsav Samithi, the 'laddu' was sold for Rs 450 in 1994.
Kolanu Mohan Reddy bought the 'laddu' in the first auction in 1994 and was the successful bidder for five consecutive years. As he claimed prosperity by winning the bid, the 'laddu' became more popular.
Since then, this sweet has grown in popularity and price. As it is believed to bring prosperity to the winner, businessmen and politicians vie with each other to bid every year.
The winners not only distribute pieces of laddu among their family and friends but also sprinkle the remnants in their agricultural fields, business houses, and at home.
The organisers had limited the auction to locals for 15 years. Later, people from other areas were also allowed to participate.
Balapur Ganesh Utsav Samithi has so far conducted the auction 31 times. The auction was not conducted in 2020 due to Covid-19 situation. The organisers had presented the sweet to then Chief Minister K. Chandrasekhar Rao.
In 2024, Kolanu Shankar Reddy bought the Balapur ‘laddu’ for Rs 30.01 lakh, while last year, Lingala Dasarath Goud was the successful bidder.
