Lakshmi Narasimha is remake version of Tamil blockbuster movie 'Swamy', (Bala Krishna) is a strict police officer who does not mind making his own rules to bring justice to the public. Once he was indirectly affected by the goon Dharma Bhiksham (Prakash Raj) which costs him his sister and lots of properties of his native village. But Dharma Bhiksham does not know that it was Lakshmi Narasimha who got affected by him.
After a few months, Lakshmi Narasimha is transferred to Vijayawada. Dharma Bhiksham rules the mafia world from Vijayawada. Though, a strict police officer - he compromises with Dharma Bhiksham and takes bribes to the tune of one and half crores. He takes the bribes and then invests all the money into rehabilitating his natvie village affected by Dharma Bhiksham. Dharma Bhiksham comes to know about it and rebels against Lakshmi Narasimha. The rest of the story is all about how Lakshmi Narasimha puts an end to the life of Dharma Bhiksham using illegal methods.