Hyderabad, Sep 29 (IANS): A five-kg Ganesh laddoo in Hyderabad’s Bandlaguda was Thursday auctioned for a record Rs.1.26 crore.
The auction took place at the Richmond Villas Society in Suncity. A group of women from the Society pooled together to buy the sweet.
Last year, the laddoo had fetched Rs.60.48 lakhs.
The organisers said the money will be used for charity works.
Meanwhile, the famous 21-kg Balapur Ganesh laddoo was auctioned for an all-time record of Rs 27 lakhs.
Dasari Dayananda Reddy from Turkayamjal, who bought it this year in an open auction, was delighted over his win as he was defeated by a whisker last
In 2022, the laddoo was purchased by a local farmer V. Lakshma Reddy for Rs 24.60 lakhs.
The annual auction in Balapur village marks the beginning of annual Ganesh immersion procession, which passes through various parts of the city to reach the Hussain Sagar lake in the heart of Hyderabad.
A total of 35 bidders, including non-locals, participated in the auction held in the presence of local leaders.
Amid loud cheers by hundreds of devotees, the participants in the open auction bid for the laddu, which they believe bring good luck to them.
According to the Balapur Ganesh Utsav Samithi, which organises the auction every year, the laddoo was sold for Rs 450 in the first auction held in 1994. It was bought by Kolanu Mohan Reddy, who remained the successful bidder for five years in a row.
As he claimed prosperity by winning the bid, the laddoo became more popular.
ince 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 the laddoo among their family and friends, but also sprinkle the remnants in their agriculture fields, business houses and homes.