Due to the temple destruction campaign started by the Portuguese rulers in Sasashti Taluka in the year 1567, the Mahajans from Madgaon shifted the local deities (Ramnath, Damodar, Laxmi-Narayan, Chamundeshwari, Mahakali, Mahesh, etc.)

[3] At the time of the Portuguese conquest Margao was in a flourishing condition and contained many well constructed buildings, the most remarkable of which was Damodar temple.

According to a tradition, this temple was consecrated to the memory of a native of Margao, by name Makaji Damodar, who having met a tragic death on the spot with his newly married spouse received the honours of a god.

Christianity was introduced into Margao by the Jesuit Fathers about the year 1560; and in 1565 a church of Holy Ghost was erected there, on the ruins of the temple, at the desire of the first Archbishop, Dom Gaspar Jorge de Leão Pereira, the idol of Damodar being removed to Zambaulim.

During the festival the Panair takes place and the folkloric show within which all participants exchange gulals (powders of different colours) with each other and organise various feasts and tablefuls.