The work investigates the basic possibilities to form a fiber reinforced lightweight concrete which posses worthy thermal insulation since on vogue. Thermal conductivity, supreme attention of thermal property that affects heat transfer in concrete by conduction. In general, achieving light weight concrete brings down the thermal conductivity and dead load of the structure. The transforms in FRLWC are primarily related to the density which is correlated to the total porosity. 0.5%, 1% and 1.5% of polypropylene fiber and glass fiber are used in order to enhance the overall concretes characteristics and in a view to restrict the initial crack propagations. Furthermore, weight and thermal conductivity possibly descended by replacing fine aggregate with several materials with low specific gravity (1% of coco-peat powder, 6% perlite, 30% of GGBS and 10% gypsum) which also enhances the workability of fresh mix. M15 grade of concrete specimens are casted and tested for its strength characteristics and thermal property and results with the above-mentioned percentages of fibers and compared for its optimum composition after validation studies. Wall panels of control mix and optimum composition (1% of glass fiber) are modeled and analyzed using the software ABAQUS 6.14-1 and its results are analogized.