The nanoparticles can hold single or multiple drugs onto their surface and deliver them to the target site with the help of targeting agent. The present invention provides AuNPs-FA-VBLS and CSNPs-VBLS-FA, which consists of biosynthetic nanoparticles of gold and chitosan, drug vinblastine sulfate and folic acid as targeting agent. The nanoparticles synthesized by using biological agent and surface decorated with VBLS and FA. Biologically synthesized nanoparticles exert high bioactivities as compared to physiochemically synthesized nanoparticles.