Malola Narasimha:
Malola shrine is situated nearly two kilometres from the main temple of the upper Ahobilam. The Deity here appears in ‘Soumya’ (peaceful) form. As Narasimha is seen with his consort, Lakshmi, He is known as Malola Narasimha. The word ‘Malola’ means beloved of Lakshmi (ma is Lakshmi, Lola is beloved).
The shrine is on a level surface of a peak of the Vedadri Mountain. This place is also called Markonda Lakshmi Kshetra.
The God is seen seated here in Sukhasana posture with his left leg folded while the right leg is shown dangling at an angle. The goddess is shown seated on the left thigh of the Lord with Kataka and Parisaritya vamahasta. The feet of the goddess rest on padma which appears to have sprouted from the earth. The Lord’s two upper hands hold Chakra and Sankha, his lower right hand is in abhaya pose and the lower left hand is shown embracing his consort.
Jwala Narasimha:
The temple of Jwala Narasimha, lies higher up the Malola temple, on a hill called Achalachaya Meru. This is about four kilometres from 
the upper Ahobilam temple. This place is said to be actual spot where the ferocity or anger of the Lord reached its acme when he tore Hiranyakasipu. It is somewhat difficult to reach this place as we have to pass through a narrow passage made by cutting and chiseling the rocks of the peak on one side, while to the other side of this passage there is a very deep valley.One has to walk very carefully. It is told that the spot where Jwala Narasimha is sitting with Hiranyakasipu on his lap is the threshold of the main entrance door of the spacious palace of Hiranyakasipu. Cleaving one of the pillars of the demon’s palace, Narasimha manifested himself. The part of this pillar standing erect has the shape of a lofty hill.
It is generally believed that after slaying Hiranyakasipu, Narasimha looked very frightful. To pacify him, Indra and other gods poured Suraganga water (celestial Ganges) on his head which flowed down as a stream into the nearby valley and the later into the river called Bhavanasini. In front of this shrine, there is a small pond bellow a fully open cave. The water of this pond is very reddish. The color of this water is said to be due to Narasimha’s washing his hand here after tearing the abdomen of Hiranyakasipu.
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Source: Gauranga Das FB page