A puja offered here blesses devotees with wealth and prosperity.
According to beliefs, Lord Vishnu was worshipping Lord Shiva each day by offering a 1000 lotus flowers. As the number of flowers decreased, Lord Vishnu tried offering one of his eyes to make up for the less number of flowers. It was Lord Shiva who came here and stopped him from doing it and granted him a sight. Sri Mahalakshmi followed Lord Vishnu with the puja and realized her wish of Shiva darshan. As Lord Shiva granted Darshan to Mahalakshmi who worshipped him with 1000 flowers, he is named Sahasra Lakshmeeswarar. Sahasram means 1000.