Bhagya Reddy Varma or Madari Bagaiah (May 22, 1888 – July 2, 1950) was an Indian leader of the Adi Hindu Movement. He was known as the "Father of Dalit Movement in Andhra Pradesh".
Bhagya Reddy Varma was born in a dalit, Mala caste family in the princely Hyderabad State to Madari Venkaiah. Bhagya Reddy Varma founded around 26 schools in around Hyderabad region for dalits. He established Dalit panchayat courts to settle disputes among dalits. He chaired All India conference of Schedules castes held at Lucknow on 27, 28 December 1930, to support send delegation to Round Table conference. Babasaheb Ambedkar was present in this meeting. Bhagya Reddy Varma was the president of Adi-Hindu Social Services League, the pioneering organisation of Dalits in Hyderabad State in the 1920s.
In 1906, he started Jagan Mita Mandali to educate dalits through popular folklore.
Arya Samaj in 1913 organised a function to honour him with the title Varma.
Bhagyareddy had launched a movement against devadasi pratha, forcing the Nizam to declare it a crime. During the Telangana Movement in 2009, the students of Telangana region renamed the G.M.C. Balayogi Athletic Stadium as Bhagya Reddy Varma Stadium.