Hello Anil,
Its most likely due to the your max_execution time value in php.ini is too low. Can you check from your joomla backend > system > system information > PHP information, and then search for "max_execution_time" using the browser search function and see the current value. You can refer my screenshot here,
http://screen.stackideas.com/2015-05-28_1926.png .
By the way without having direct access its hard for us to tell what is the root issue that you facing currently. All we can do is guiding you with the best possibilities of why the error is appear during installation. On extra note, go to your joomla backend > system > global configuration > server, and turn error reporting to maximum while turning off the gzip compression as you can see from my screenshot here,
http://screen.stackideas.com/2015-05-28_1929.png . If there any error showing during the installation, kindly take a screenshot and sent it to us here so we can have a better look on the issue.
Looking forward for your response.