IIT Hyderabad - Indian Institute of Technology

It depends on which branch you're comparing in both colleges, which direction you want to proceed in! If you just compare entry rankings, then Hyderabad performs better. But to know about how teaching, placements and conditions are actually in both the colleges, you need to ask both the sides about their stuff.
Also, once you find yourself more comfortable at a place, you might perform better, compared to being uneasy at a probably much higher ranked place.
Now when it comes to Hyderabad, if you perform decently well from your side, you'll definitely gain a lot from this college, specifically if you're in CS-related fields. (I can tell that it's at least awesome in CS, EE related fields, not much idea about other branches). People get nice placements (Google, Microsoft, Qualcomm, etc.) and get into good grad schools (Stanford, CMU, UIUC, etc.) for research. Once you land here, it totally depends on the efforts you put to gain from it, be it in any direction.