The present paper focuses on the recent development of an implicit pressure-based finite volume algorithm for numerical solution of Navier Stokes equation in an inertial frame of reference for prediction of unsteady incompressible flow problems. The algorithm uses boundary-conforming, multiblock structured grid with moving boundaries, collocated variable arrangement with momentum equations resolved along cartesian directions, second order accurate spatial and temporal discretisation schemes for the convective fluxes and a pressurevelocity solution strategy. Effect of turbulence is simulated using one of the two different approaches. In the Unsteady Reynolds Averaged (URANS) approach coupled to appropriate eddy viscosity based turbulence models, the Navier Stokes (NS) equations, averaged over the whole range of turbulent length scales of the flow, are solved numerically. On the other hand, in the Large Eddy Simulation (LES) approach, the model filtered 3D NS equations are directly solved for the flow variables to resolve the large scale turbulent motions whereas the transport processes at the fine subgrid scale level only are simulated using simple algebraic turbulence model. The capabilities and limitations of both the cost-effective URANS approach and the relatively expensive but rich in physics LES approach have been demonstrated for few application problems of engineering interest.