My friend studies in IIIT-Sricity which shared some faculties with IIIT Hyderabad initially as it was under its mentorship.
Generally, you can find both good and bad professors here. But the bad here does not mean underqualified, but arrogant ones. By no means will you find a professor who is underqualified and their extensive knowledge is their biggest weapon. Some of them are as great as Prof Raj Reddy, a Turing award winner which is considered a Nobel Prize or Oscar for Computer Science. So you can get an idea of the level of faculties here.
In reality, most students at IIIT Hyderabad are dependent on peers or seniors more than their faculty. So you can stop bothering about the parity of the professors here.