A school watchman raised an alarm after he first spotted the body in the morning, following which the police was informed.
"The victim's head was crushed with a stone and the naked body was lying in a pool of blood in the school corridor," Sub Divisional Officer of Police (SDOP) Girish Bohre told reporters.
A forensic team and dog squad were pressed into service to collect evidence about the killers, he said.
The victim was later identified as Surendra Shilpkar (22), a resident of Begumganj. His family members, who had filed a missing person's report yesterday, were called in to identify the body.
Police recovered the blood-stained stone from the spot besides a pair of slippers, possibly belonging to the victim.
The reason behind this gruesome murder was not yet known, pollice said, adding that a hunt has been launched to nab the culprits.