In a field trial, the variability of groundnuts cv. GG2, J 11, JL24 (Spanish) and TMV 10 (Virginia) for drought resistance, growth and yielding ability under water deficit stress at different phenophases was analysed. Water stress during flowering and pod development was highly detrimental to leaf area development, DM production, pod formation and yield compared with stress during the vegetative phase. Leaf transpiration rate (LTR) and relative water content (RWC) under stress at the vegetative phase were significantly reduced. LTR was positively correlated with RWC and yield, RWC was positively correlated with leaf area, and leaf diffusive resistance was negatively correlated with RWC and air-leaf temp. difference. The recovery of growth from stress was better after relief at the vegetative phase than at later growth phases. Drought resistance and yielding ability appeared to be regulated by different genes. Cv. GG 2 showed developmental plasticity and gave the best pod yields even under stress at any growth phase, indicating its potential drought resistance.