The presiding deity in this temple is Lord Narasimha Swamy and is seen with eight hands and hence known as Ashta bahu Narasimha. Prahlada is seen standing with folded hands in prayer beside the Lord.
It is said in the inscriptions of the Temple walls, that Swamy appeared in the dream of Veera Bukka Rayalu of Vijayanagar dynasty and instructed about his whereabouts. King along with his staff then recovered the Idol from the roots of the tree and built the temple during 1274 - 1275 A.D. As the time passes, the Idol got disappeared from the temple, in the year 1545 A.D, Achyutha Devarayulu as instructed by the Lord in the dream brought the idol from Sthothadhri hill caves and installed in the temple. Cholas, during 985 - 1076 A.D built the temple for Durga Devi Temple and sculptured idols on the rocks. In the year 1953, Lakshmi idol was installed in the place of Durga Devi, still, we can see Dura Devi main idol inside Durga Devi temple.
In the year 391, Narasimha Dasari and Lakshmana Dasari set the long pillars within the temple compound for lighting Lamps. In the year 1509, Sri Krishna Devaraya built the corridor with Lion faces and Alwar Shrine. In 1545, Achyutha Devaraya built the East Raja Gopuram, Temple for Lord Vinayaka, Temple for Lord Krishna and Raghavendra Brundhavan. In the year 1569, Sri Thirumala Raya built the corridors and Pushkarini. During the period 1642 - 1644, Chathrapathi Sivaji built the Temple for Mahisasura Mardini. East, West and South Raja Gopuram (Temple towers) were built during the period of Vijayanagar dynasty. As said in the inscriptions, that Kopanna who worked for Kempanna Odayar while building Sri Rangam Temple donated gold ornaments. In the years 1451 and 1529, Chief for Tadipatri Region built the Veyyi Kalla Mantap and Kotai Mantap. Irrespective of the religion, people celebrates the temple festivals. Devotees from Tamil Nadu, Karnataka used to this temple regularly.
Sri Kadiri Lakshmi Narasimha Swamy Temple Kadiri
Lord Maha Vishnu took the form of Narasimha Swamy to kill the Hiranya Kasyapa. Even after killing the demon, he started roaming around forests and hills with anger. At Sthothadhri hill which is near to Kadiri Town, Devas along with Prahaladha prayed to calm down Narasimha Swamy. Narasimha Swamy pleased with the prayers and withdraw the anger at this place. Hence Narasimha Swamy Temple here is called as Prahalada Sametha Narasimha Swamy Temple. 'Ka' means Vishnu Padam , 'Aadri' means Hill so the place got the name as 'Kadri' later turned into 'Kadiri'. Belief is that Narasimha Swamy stayed at the roots of Chanda Vruksha for a very long time. Interesting fact associated with this temple is, Sweat comes out of the Idol after Abhishekam. Vasantha Vallabha Utasva murthi which are there in the temple were recovered from Brughu Theertham, as instructed by the Lord in the dream. These Idols were installed during Vasantha Ruthuvu so this utsava murthi were called by Vasantha Vallabhulu. It is believed that these idols were presented by Lord Narasimha Swamy to Bhrugu Maharshi to perform Archana. The legend of Kadiri is mentioned in BRAHMANDA PURANA. It is also said that Veda Vyasa established gurukul in this region to stay away from the demons attack. Arjuna did penance here on the banks of Maddileru, and this river connects holy tanks, Swetha Pushkarini, Brughu Theertham, Sesha Theertham, Kunthi Theertham, Lakshmi Theertham, Ganga Theertham, Garuda Theertham, Bhavanasini Theertham along its path.