In particular focus is the Lakshmi Narasimha Swami temple, located near the historic Ahobilam belt in the dense jungle of the Nallamala forest. There are rumor mongers who claim that a closed well near the temple has riches worth more than what was found in the Padmanabha temple in Kerala.

Myth suggests that the large stones in front of the presiding deity contains treasure chests containing gold and diamonds that was preserved there by King Sri Krishnadevaraya of the 16th century. There are also stone and palm leaf scriptures to back the claims.

There are treasure hunters who have made a bee line to this temple since the last three decades with the intention to loot the historical treasures but with no success. Certain attempts have also resulted in the death of the treasure-hunters, with a local priest commenting, “One archeology professor, who tried to dig the surface, died on the spot when some poisonous fumes erupted from the side hole of the earth 20 years ago.

A villager at Ahobilam has been quoted as saying, “Recently, an engineer who attempted to break open the treasure not only failed in his attempt but also lost his life.” Former Andhra CM, Marri Chenna Reddy is also believed to have made some attempts to know more about the treasure but abandoned plans mid way.

It is believed that these treasures were hidden by kings to avoid being looted by Arab and Muslim invaders. The scriptures have barred taking out the treasures until one more generation passes or else they will have to face premature death, say the temple priests.

There are also rumours of similar treasures in the Panakala Lakshmi Narasimha Swami temple that has a similar statue resembling that of the Padmanabhaswamy temple in Kerala. The temple is near the Vundavalli rock caves in the Guntur district of AP and it is believed that a secret tunnel leading to the tunnel that holds amazing riches.

With the public curiosity aroused over the temple treasures, various robbery attempts too have come to the fore near certain temples in the Medak district in AP.