Inclusion of promising diverse parents in hybridization will have a definite impact on segregants derived out of any cross combination. About 120 rice fallow groundnut germplasm lines obtained from National Research Centre for Groundnut, Junagadh were evaluated for their diversity in flowering, pod number, shelling (%) and pod yield under rice fallow situation. Results indicated that there is high variability for pod number and pod yield and high heritability for pod yield, number of pods per plant and shelling outturn. Superior germplasm lines identified in the study were promising for utilization as parents in the hybridization programmes.