Pemgiri is about 55 km away from Bhandardara towards Akole. It was once the capital of the Nizamshahi State. The remains of the fort can be found here. Pemgiri is also known as Premgiri, Bhimgad and Shahagad.
The prominent attraction is the revered banyan tree which covers an area of 4 acres. The temple of Devi Pemai and a water tank, dating from the Satavahana era are worth visiting. There is also a well that contains a rock inscription, mentioning the Hindu year as 1628.
Two caves, locally called 'Guahgar', believed to be the home of wolves and leopards, are nearby. Limestone quarries are around. Imprints of leaves that have been embedded in rock is an interesting sight.