Peacock Bay is a part of Khadakwasla Dam's lake. This bay is owned of national defence academy, Pune. The name peacock bay is given due to the Peacocks found in this area. Other animals found in this area are Deer, lion tailed Monkey and Civet. This lake covers area of about 501 km2. and the depth varies from 40 to 120 feet.
This bay hosts various competitions like annual national inland championship, open lake swimming competition, etc. This lake is a venue for water sports in Pune. This bay is just 12 km away from Pune and is situated on Mutha River.