History:
The Swayambhu Vigraha of Sri Lakshmi Hayagriva was given to Goddess Saraswathi by Lord Brahma for worship. Goddess Saraswathi who also gained knowledge from Lord Hayagriva in turn gifted the idol to Bhagavad Ramanuja when she bestowed him with the title "Sri Bhaskara". After him, the iodol was worshipped by Sri Nigamantha Maha Desika. This great sage established a mutt at Kanchipuram in service of the Lord in 1338A.D and proclaimed Visishtadwaita.

Vedanta Desika started his scholarly outporings numbering more than hundred with the stuti of Lord Lakshmi Hayagriva, the Lord of Wisdom. The first sloka of the stuti goes as follows:

Gnananda mayam devam nirmala sphatikaakritim,
Addharam sarva vidhyanam, Hayagrivam upasmahe.

The glorious and honoured practice of worshipping Lord Hayagriva was handed over to Sri Brahmatantra Swami. Since then, the idol is being worshipped by the lineage of the Acharyas of Sri Prakala Mutt with utmost devotion and without letup. Some of the most illustrious Acharyas of this Mutt happen to be from AP. The present pontiff of Sri Parakala Mutt , H.H. Srimad Abhinava Vageesha Swamy, is 36th in the order.

Acharya Parampara:

Parakala Mutt- Hyderabad:

The present Pontiff H.H Srimad Abhinava Vageesha Swamy has visited Hyderabad many times and expressed his desire to construct a Mutt here along with Sri Hayagriva Sannidhi. He disclosed that this is as per the wish of his Guru H.H. Srimadabhinava Ranganatha Maha Desika, who hailed from AP and was a scholar extraordinaire. H.H. Swamiji has constituted a committee consisting of Sishyas and well wishers of the mutt. H.H. Swamiji has oradained the committee to expedite the construction and complete all the works so soon as possible.

Dr.V. Sampath, an ardent devotee of the mutt was kind enough to donate a piece of land measuring 1300sq.yards at Medipally village Uppal in the outskirts of the city for this purpose. After taking over the land, as per the instrunciosns of our present Swamiji, construction was started. The main temple complex(80'x40'),
the annex building having 3 floors of 1200sq.ft. each for accomodation of the pontiff and others are almost nearing completion.

In temple complex, it is planned to install the iodls of Lord Lakshmi Hayagrivar, Lord Srinivasa and Godess Mahalakshmi, Garudalvar and Anjeneya. Some disciples of the mutt volunteered to sponcer all the iodls. Many more people have added their contributions generously. In order to complete the construction of the mutt and for the maintainance generous donations are required....