Sri Lakshmi Ashtottaram

लक्ष्मीं क्षीरसमुद्र राजतनयां श्रीरङ्गधामेश्वरीम् 
दासी भूत समस्त लोक वनिताम्
लोकैक दीपाङ्कुराम्
श्रीमन् मन्दकडाक्ष लब्ध विभव ब्रह्मेन्द्र गंगाधराम्
त्वां त्रैलोक्यकुटुम्बिनीम् सरसिजां वन्दे मुकुन्दप्रियाम्

lakshmīm kshīrasamudrarāja tanayām
srīrangadhameswarīm
dāsi bhūta samasta loka vanitām 
lōkaika dīpānkurām 
sriman mandhakadāksha labhda vibhava brahmendra gangādharām
tvām trailokya kutumbinīm sarasijām 
vande mukunda priyām

Sthala Puranam

According to ancient texts such as the Vishnu Purana and Padma Purana, Mahalakshmi emerged during the Samudra Manthan (churning of the cosmic ocean), seated on a lotus and radiating divine brilliance. All the devas and asuras paused in awe as she appeared, holding lotus flowers in her hands and adorned in gold and red garments, symbols of purity and abundance.

Upon her appearance, she chose Sriman Narayana as her eternal consort, signifying that wherever there is dharma, devotion, and divine order, Lakshmi will always be present.

In Tirumala, she is worshipped as Padmavati Thayar, a divine incarnation of Mahalakshmi who married Lord Srinivasa (Venkateswara). Her temple in Tiruchanur is visited by devotees before they ascend the hills of Tirumala for the darshan of Lord Venkateshwara.

The Story of Alarmelmangai Thayar

After leaving Vaikuntha due to Sage Bhrigu’s insult to Lord Vishnu, Mahalakshmi Thayar incarnated on earth as Padmavati, the daughter of King Akasha Raja. In time, she married Lord Srinivasa, the earthly form of Lord Vishnu. Though their wedding was divine, Padmavati Thayar chose to remain in Tiruchanur, while the Lord returned to the Tirumala hills.

However, Mahalakshmi Thayar can never be separated from Lord Vishnu. As the Lord stood in meditation atop the hills, longing for her presence, Mahalakshmi Thayar was moved by his devotion and penance. She manifested once again on the Tirumala hills, seated gracefully on a golden lotus. Thus, she became known as Alarmelmangai Thayar, the goddess who sits upon the lotus.