Balapur Ganesh, Hyderabad's most popular 21-kg laddu, was on Sunday auctioned for an all-time record of Rs.18.90 lakh.
Ramesh Yadav, a member of the Andhra Pradesh Legislative Council, along with Marri Shashank Reddy, a businessman from Nadargul in Telangana, bought the famous laddu.
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The bidding started for Rs 1,116 and within a few minutes, it was auctioned for the highest-ever bid amid loud cheers by hundreds of devotees.
Yadav termed this as a gift to Andhra Pradesh Chief Minister Y S. Jagan Mohan Reddy.
Kolanu Ram Reddy, a businessman and an agriculturist who bought the laddu for Rs 17.60 lakh in 2019, also participated in the auction this year along with many others
State Education Minister P. Sabitha Indra Reddy, former MLA T. Krishna Reddy and several other politicians were present to witness the auction.
The annual auction of the laddu in Balapur village on the outskirts of the city marks the beginning of the Ganesh immersion procession, which passes through various parts of the city to reach Hussain Sagar lake in the heart of the city.
According to Balapur Ganesh Utsav Samithi, which organises the auction every year, the laddu was sold for Rs 450 in the first auction held in 1994.
Since then, this sweet grew in popularity and price. As it is believed to bring prosperity to the winner, businessmen-politicians vie with each other to bid every year.
In 2018, the laddu was auctioned for Rs 16.60 lakh. Last year, the auction was cancelled as there were no public celebrations due to the Covid-19 pandemic.
Kolanu Mohan Reddy had bought the laddu in the first auction in 1994 and was the successful bidder for five years in a row. As he claimed prosperity by winning the bid, the laddu became more popular.
The winners not only distribute pieces of laddu among their family and friends but also sprinkle the remnants in their agriculture fields, business houses and at home.