For the first time in India, composite panels, a novel building component comprising of outer skins of cold formed steel (CFS) sheet with infill light weight cellular foam concrete has been developed to serve as an alternative to load carrying brick walls and floor/roof slabs. Experimental studies have been conducted to study the applicability of proposed lightweight panel to act as wall and floor/roof slabs. The tests revealed that the strength and behaviour aspects of these panels are found to be superior as wall and floor panels.