Namakkal is also called as "Namagiri". At Namakkal Sri Mahalakshmi's prayer made Sri Narasimha Swamy calm. So he blessed her and gave many boons to her. From this time, the fame of Mahalakshmi began to spread all over the world. Here Lord Narasimha is called "Lakshmi Narasimha" because of the boon given by the Lord to Sri Mahalakshmi.

On the eastern side of the rock there is also a cave temple. It is called Sri Ranganatha Temple, where Lord Vishnu is seen sleeping on Adhisesha.In the same cave temple the Lord is seen in Sankara Narayana Thiruk kolamand on the other side Vamana Avatharam is engraved. The Lord Narasimhaswamy Temple Lord Ranganathar Temple have been declared as monuments under the preservation of Monuments and sites Act 1958 and they are protected by the Archeological Department. These two temples are maintained and administered by the H.R. and C.E. Department and Grade I Executive Officer is administering these temple affairs. Daily poojas are being performed as per Vaikanasa Agama.

The glories of goddess Namagiri Thayar spread all over India. The devotees who Visit Namakkal first are heartily worshipping the Goddess and give offerings to her. They also pray to get wishes fulfilled immediately. They whole heartedly offer Her Jewels, Sarees etc., The Dasara festival is being performed for ten days for Sri Mahalakshmi. The Car festival is being celebrated for 15 days to Lord Narashima, Sri Hanuman, and Sri Ranganathar are the stars of Panguni Hastham every year. The Hanuman Jeyanthi is celebrated in a grand manner during the new moon-day of Margazhi every year.

The myth says the cave temples were constructed by Viswakarma (Devine Mason) but the Archeological Survey says that the caves were constructed by Adhiyaman rulers who ruled over Kongu, The cave sculptures were engraved by GUNSILA Adhiyan Kula, King during 7th Century.