Parakkat Sree Bhagavathy temple is a very sacred and important pilgrim centre of Kerala. It has great historical importance also. This ancient Temple is situated deep inside the forest at Kavasserry, in Alathur Taluk of Palakkad District. The presiding Deity is Bhagavathy facing North and Mahaganapathy, Nagar etc are the sub-dieties here. Devotees of this Bhagavathy firmly believe in their ardent prayers being granted without fail. Innumerable stories are narrated by those who have experienced the blessings of the goddess. The most important annual ritual of the temple is the Tolpavakkuthu, celebrated in the month of Kumbham. In the month of Meenam is the pooram celebration which more is celebrated with great religious fervour and immense public support and participation. Apart from these there is the annual temple festival also. The offerings which is done in the nearby days of Pooram are Kathirvela of Thulam month, Mandalam kalamezhuthu pattu in Vrishchika month, Ponnin poovu in the month of Makaram, Koothu in the month of Kumbham, Aaluvela in the month of Edavam, Thalappoli in the month of Midhunam and Eeswara seva in the month of Karkkidakam