Chasing a 283-run target, Odisha romped home after losing eight wickets in a tense Group B contest in which fortunes fluctuated from one side to other.
Sarangi top scored for the winners with a 83-run knock while Podder scored 64 as they raised a crucial 155-run partnership for the third wicket.
Chirag Jani broke the stand by castling Sarangi, who hit 11 boundaries and Podder was bowled by Jaydev Unadkat. Podder's innings had eight shots to the fence.
However, Deepak Behera (21) and Basant Mohanty (10) held nerves to steer the side to the finish line with their unbeaten 21-run stand for ninth wicket.
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Paceman Siddharth Trivedi took four wickets in bringing Saurashtra back in the match but his effort proved insufficient in the end.
Brief Scores:
Saurashtra 218 and 152
Odisha 88 and 283 for eight in 102 overs. (Anurag Sarangi 83, Govinda Podder 64; Siddharth Trivedi 4/45).