The picturesque Shri Laxmi Narasimha temple is situated at Velinga which is about 3-km southwest of Mardol in Ponda. It is dedicated to Lord Vishnu and his consort, Goddess Laxmi. It is known to have been built in the 18th century and the deity in this temple is known to have been transferred from Salcete in 1567.

The eighteenth century structure is Narayan or the man-lion Narashima which is Vishnu in his fourth incarnation. The hall of the Shri Laxmi Narasimha temple leading to his shrine has images of the different avatars of Vishnu.

At the far end of the Shri Laxmi Narasimha temple courtyard one can see a beautiful water tank that has a lot of coconut palms at the side. It has a nice ceremonial gateway by which one can enter and the locals often use the stepped sides for communal bathing. One can also see a musician's gallery nearby.

The main festivals celebrated at the Laxmi Narasimha temple include the Manguirish Zatra in mid-February, Sri Ramanavami and Navaratri. A palkhi (palanquin) of Sri Laxmi Narasimha can also be seen on every Shukla Chaturdashi. However non-believers are allowed only to have a darshan (look) at this as the entry to this temple is restricted to believers and devotees.