Hyderabad, Sept. 26 -- For those who bid lakhs of rupees for a Ganesh laddu, the sweet is worth far more than its ingredients. The auctioned laddu is treated as sacred prasadam, with successful bidders traditionally taking it home and distributing it among family members, relatives, friends and well-wishers. Some also take small portions to their homes, agricultural fields and business establishments, believing it will bring prosperity and good fortune.

The tradition is most famously associated with Balapur, where the 21-kg Ganesh laddu fetched a record Rs.39 lakh on Friday, September 25. Businessman Sama Praneeth Reddy of Urban Realty Group emerged as the successful bidder.

The Balapur auction began in 1994, when the laddu was sold for...