I have kept the mtl file and texture file along the obj file. But why its not taking effect. See current situation in Babylon js
link: Babylonjs link
But same obj,mtl and texture file in krpano example. Please note: I have not added any light
link: krpano design
How can I achieve the same quality in Babylon JS, please guide?
Hello 
I assume here your problem is a lighting issue, as the baked textures seems to be considered as emissive texture in your working demo.
Try to remove the hemi light and go emissive :
const root = res.meshes[0]
root.material.emissiveTexture = root.material.diffuseTexture;
root.material.diffuseTexture = null;
++
Tricotou
Done thank you