Multipliers are building blocks of almost all the processors for used for numerous digital signal and image processing applications. When these computational blocks demand increases there is a need arises to develop such functional blocks to improve overall processor performance efficiently. In existing multiplication add-shift techniques are followed to improve the area consumption but involves negotiations on power efficiency and computational speed. This necessitates to development of low-power, high-speed multipliers in all the digital signal and image processing processors. There is a unique technique in the Vedic mathematics which effectively speed up the computation of multiplication process. In the present work one of the best solutions that is Urdhva-Tiryagbhyam Sutra based multiplication is employed to permits additional intuitive numbers. Along with this a precomputation logic is also implemented for the parallel execution which will further reduce the power consumption of the multiplication process. These Vedic multiplier designs were designed and implemented using Standard 180nm Cadence Design Compiler and standard 40nm Synopsis Design Comiler, with a delay of 7.578ns and a power consumption of 526.7 µW. It was found to be approximately 20.94% faster while consuming 10.99% less power associated with traditional multipliers.