Vaikuntam obtained his Diploma in painting from the College Of Fine Arts, Hyderabad and then won the State Lalit Kala Academi's Fellowship to study printmaking and painting at M.S.University, Baroda. He has been teaching at BAL Bhavan, Hyderabad for several years.
He won the National Award, 1993, Hyderabad Arts Society award in 1973 and Bharat Bhavan Biennale award in 1988. He participated in many exhibitions in Hyderabad 1972-90, VII Triennale, India 1991, Art Encounter, Kassel, Germany 1999, Asprey's auction for helpage 1993, Chamatkara at London and many shows at Madras and Calcutta.
He lives and works in Hyderabad.