Sri Lakshmi Narasimha Temple is popular among travellers for the 6.7 metre monolith statue of Narasimha (an avatar of Lord Vishnu) that is seated on the coil of Adisesha, a seven-headed snake. According the information derived from inscriptions found at this temple, this site was completed in 1528 AD, during the reign of King Krishnadevaraya. Originally, the idol had the figure of Goddess Lakshmi on Lord Narasimha's lap.
During 1565 AD, the figure of Goddess Lakshmi was vandalised. At present the idol of Goddess Lakshmi has been kept at Kamalapura Museum. However, the idol of Narasimha with bulging eyes and delineated mane still attracts a majority of tourists. The idols of Lord Narasimha and Goddess Lakshmi were carved out from a single boulder.
Unlike architects from South India, the Sangamas used granite for constructing the Sri Lakshmi Narasimha Temple. However, the granite was not applicable for the delicate filigree work that could be done on schist, a softer material. In order to make up for the absence of intricate designs, the architects decided to build a massive structure.