The Lakshmi Narayan temple was built in the 1890s by Mathuradas Damodardas Jhaveri, in memory of his late wife, Kesarbai. The Jhaveris are jewelers and they historically migrated to Mumbai from Gujarat, hence elements of Gujarati architecture are reflected in the sitting platform (otla), the use of Gujarati language, and the use of decorative torana over the door.