Update:

Before boarding Turkish flight to Riyadh:

• Check-in agents tagged my bags to BOM as the Air India system is not allowing them to do all the way to Hyderabad.
• Check-in agents were not able to give my RUH to BOM to HYD boarding pass and asked me to contact arrivals desk in RUH.
• Air India customer service on phone told me to figure out things about boarding pass myself when I arrive in RUH. After I told, I am in Business class, he put me on wait and gave some documented information on  Air India counter (like room number 16xx - WTF?) in RUH but did not give specifics of how I can meet them. Very useless customer service. It sucks. Thats the reason travelers don't want to fly Air India. Basically they are like find yourself when you are at the airport.
• Gate agent asked for Visa and made fuss for a while until he checked the system.

After landing in Riyadh:

There were no board signs about transfers in Riyadh KKIA Airport. Fortunately I found a helpful agent wearing SGS (Saudi Ground Services) tag ID card. He checked my documents, asked me to wait and got a passenger transit form. Filled some details in it and asked me to sign. Made me go through quick security scan in the terminal. Again asked me to wait - took my passport, ticket. Came back after 35 mins with my Air India boarding pass. He also changed my baggage tags from Turkish to Air India checked all the way to Hyderabad. Since I was in business class, I was told to use the Plaza Premium lounge (which is boring by the way. I used Wellcome lounge with my PriorityPass).

While the process went with no hiccups, it was not pleasant as I was nervous all the time in RUH airport because of no signs of transit boards.