The stimulated emission cross section σp for the 1060 nm transition of Nd3+ in lead borate and bismuth borate glasses has been determined from fluorescence measurements. The compositional dependence of σp, which has been evaluated using radiative transition probability, refractive index of the host glass, effective fluorescence linewidth, and position of the band, with PbO/Bi2O3 content is investigated. The σp values of the 1060 nm band of Nd3+ for lead borate and bismuth borate glasses are found to be in the range 2.6–5.7×10−20 cm2 at 298 K and 3.0–6.3×10−20 cm2 at 4.2 K. The σp values are comparatively large suggesting the possible utilization of these materials in laser applications.