The ninth accused was acquitted by the court.
The quantum of punishment will be pronounced on Wednesday by the Ranga Reddy district court.
The main accused, Faisal Dayani, a gym instructor, and the others were convicted for dacoity.
The prosecutor said under section 395 of the Indian Penal Code, the accused may be sentenced to life or rigorous imprisonment for a term which may extend to 10 years.
However, the charge of gangrape against the accused was dropped as the victim withdrew her statement.
The sensational activities of the gang came to light in 2014 when a girl lodged a complaint with the police that the gang raped her in front of her fiance.
After barging into a guest house in Pahadi Shareef area on the city's outskirts, the accused also looted Rs.60,000 from the couple.
The gang, however, has been charged under Section 354 B of Nirbhaya Act (assaut or use of criminal force with intent to disrobe woman).
The gang was allegedly involved in extortion and settling of disputes. Its members used snakes to threaten their victims. Police had also seized four horses from their possession. They have also been charged with showing cruelty to animals.