Balapur laddu gets record price of Rs 24.64 lakhs in auction

Hyderabad, September 9: This time too, six locals and three non-local persons competed in auction to get Balapur laddu. Everyone expected that laddu might goes to highest bidder at Rs 20 lakhs as previous year, it was auctioned for Rs 18.90 lakhs. 
 
Surprisingly, Ponguleti Lakshma Reddy won the auction by bidding laddu for Rs 24.64 lakhs amid cheers and claps from thousands of devotees. Compared to previous year, organisers got Rs 5.74 lakhs more in laddu auction. Balapur Ganesh shobha yatra started after completion of bid.  
 
First auction of Balapur laddu had started in 1994 for Rs 450. It was won by Kolanu Mohan Reddy. After 10 years, Kolanu Mohan Reddy secured laddu once again for Rs 2.10 lakhs in 2004. In 2014, the bid was won by Singireddy Jaihind Reddy for Rs 9.50 lakhs. However, there was no auction for laddu in 2020 because of pandemic. Going by the trend, bid for laddu in 2023 might cross Rs 30 lakhs.