First of the references for this fort is found in Greek traveller Pliny’s works in first century AD, where he refers to this fort as Mandargiri or Mandgor. No reference is available till 1548. In 1548, Portuguese won this fort from Adilshah. Later Kanhoji Angre captured this fort and renamed as Himmatgad. Due to rivalry between Peshwas and Tulaji Angre, Peshwas allied with British and waged a war with Angres. Commander James captured the fort and named it as Fort Victoria. Since it was not economically viable to maintain this fort, it was handed over to the Peshwas
There is a Ganesh temple at the base of the fort. The fort is surrounded by moats dug up in the red laterite. The main entrance faces north and is decorated with stone carvings. Near the entrance are vestibules for gate keepers. In the vestibule on right side there are 6 water tanks. Going ahead we come across Nagarkhana, where we find decorative steps to ascend it. From here we can have a glimpse of Savitri River and the surrounding region. To walk on the ramparts, there are stairs from eastern and western side. From the western doorway we can go the bastion outside the ramparts. Here we find a deep well and a room for the patrolling soldiers. There is a secret entrance near this bastion. This bastion lies on the way from Bankot to Velas, and was built by Siddis to strengthen Bankot fort.