As per Hindu legend, Saptarishis, the seven sages worshipped five deities Panchaveeras, namely, Venkata Krishnaswamy, Rukmini, Satyaki, Balarama, Pradyumna, and Aniruddha. As per Mahabharatha, Vishnu, in his avatar as Krishna was acting as charioteer for Arjuna, the Pandava prince during the war with Kauravas. Krishna did not take any weapons during the war. During the fight between Arjuna and Bhishma, Krishna was injured by the arrow from Bhishma. The mark in the image in the temple is believed to follow the legend. The place is called Allikeni, meaning a pond of lily as it is believed that historically the place was full of lily ponds. The place is the only place where the presiding deity is sported with a mustache. As per another legend, the place was once a Tulsi forest. A king named Sumati wanted to see Vishnu in the form of Parthasarathi and prayed at Srinivasa temple in Tirupathi. Srinivasa directed the king to visit the temple here built by sage Atreya and worshipped with another sage called Sumati.