The study deals with investigation of certain Nd3+ doped glasses for their application as laser host materials. Four series of Neodymium doped glasses prepared by melt-quenching technique were physically and spectroscopically analyzed. Judd-Ofelt theory was applied on the room temperature absorption spectra of these glasses and was used to elucidate some radiative parameters. The results obtained by employing Judd-Ofelt theory have been corroborated by the structural analysis using Fourier Transform Infrared (FTIR) Spectroscopy. The optical band gap and width of mobility tail have been determined using Mott and Davis Model. The results indicate that a variation in composition of rare earth ions and host composition can highly enhance the laser action of Neodymium doped Lead Borate glasses.