The construction of the temple dedicated to Laxmi Narayana started in 1933, built by industrialist and philanthropist, Baldeo Das Birla and his son Jugal Kishore Birla of the Birla family, thus, the temple is also known as Birla Temple. The foundation stone of the temple was laid by Jat Maharaj Udaybhanu Singh. The temple was built under guidance of Pandit Vishwanath Shastri.

The main temple houses statues of Narayan and Lakshmi. There are other small shrines dedicated to Shiva, Ganesha and Hanuman. There is also a shrine dedicated to Buddha. The left side temple shikhar (dome) houses Devi Durga, the goddess of Shakti, the power.