It is believed that Hindu goddess Mahalakshmi was born as Alamelu to Akasha Raja, the ruler of this region, and wed Venkateswara of Tirupati.

Lakshmi gave darshan to Venkateswara on a red Lotus flower (Padma in Sanskrit) at Alamelu mangapuram after his deep penance for twelve years.

The Venkatachala Mahatyam states that the Sun-god Suryanarayana was instrumental in blossoming of the lotus in full splendour.

The manifestation of Padmavathi occurred in the month of Karthika on Sukla Paksha Panchami when the star Uttarashada in the ascendent.

[4] In Padmasarovaram, Chakra Snanam will be held on last day of Annual Padmavathi Brahmotsavams (Panchami Teertham) which will witness lakhs of devotees taking a dip in the holy waters.