In order to study the genetic parameters for drought tolerant related traits in groundnut, TCGS 1043 was crossed with ICGV 05163, ICGV 06045, ICGV 93261 and TCGS 913. Genotypic co-efficient of variation (GCV), heritability (h2) and genetic advance as percentage of mean were estimated for these characters in F3 populations of four crosses.The results indicated that the traits, total biomass, shoot weight, root weight and shoot to root ratio were largely governed by additive genetic variance and hence, selection would be effective in early generations. The traits SCMR and harvest index were predominantly governed by non-additive genetic variance and selection has to be postponed to later generations The trait, SLA was influenced by both additive and non-additive gene action and selection would be moderately effective in early generations