The town of Vajreshwari, on banks of the river Tansa, lies in Bhiwandi city, Thane district, Maharashtra, India It is 27.6 km away from the nearest station of Virar on the Western Railway line and 31 km from the nearest station of Khadavli on the Central Railway line.

The temple is located near the post office of Vajreshwari town, on the Mandagiri hillock, which was formed out of a volcanic eruption and is surrounded by hills on all sides.

The Puranas mention the region of Vadvali as a place visited by Rama and Parashurama, avatars of the god Vishnu.

The legend says that Parashurama performed a yajna (fire offering) at Vadvali and the hills of volcanic ash in the area are its residue.

The primary deity of the temple, Vajreshwari (vajreśvari), also spelled Vajreshvari, also known as Vajrábái and Vajrayogini, is considered an incarnation of the goddess Parvati or Aadi-Maya on earth.

A Rakshasa (demon) named Kalikala or Kalikut troubled the rishis (sages) and humans in the region of Vadvali and waged a war against the devas (gods).

[1] The seventh canto of Navanath Kathasar states that Machindranath served the goddess Vajrabhagawati (Vajreshwari) for a month by giving her a bath of the water of hot springs.

[2] In 1739, Chimaji Appa - the younger brother and military commander of Peshwa Baji Rao I - had set up camp in the Vadvali region on his way to capture the Portuguese-held Bassein Fort of Vasai.

The saffron murti (idol) of the goddess Vajreshwari with a sword and a gada (mace) in her right and left hands respectively and a trisula (trident) besides her, stands in the centre.

The assembly hall has a bell, which devotees ring when entering the shrine and a marble lion, also believed to be the goddess' mount.

Smaller shrines on the temple premises are dedicated to Kapileshwar Mahadeva (Shiva), Datta, Hanuman and saints of Giri Gosavi sect.

The samādhi (tomb) of the 17th century Giri Gosavi saint Godhadebuwa is further up on top of the Gautam hill, behind the Mandagiri hillock.