Peacock Bay is situated on the north-east of the Khadakwasla Lake. The bay derives its name from the abundance of peacocks found in the area. Besides peacocks, there are other fauna such as deer, lion-tailed monkeys and civets. This bay hosts colorful events and competitions of the National Defence Academy. This picturesque bay provides all training to the cadets and the facilities at the bay include an array of training equipments, sailing boats of all classes, speed boats, wind surfers, water skis, whalers, dinghies and cutters.

Khadakwasla is 11 miles west of Pune.