The present study was conducted to assess the genetic variability in 238 F5 and F6 progenies derived from WH 711 / WH 542 cross for nineteen yield, its components and physiological traits. Analysis of variance showed significant differences among the genotypes for all the traits. The phenotypic coefficient of variation was found higher than their respective genotypic coefficient of variation for all the traits in both the generations indicating the least influence of the environment. Moderate to High PCV and GCV were observed for chlorophyll-b, chlorophyll-a, carotenoids, number of grains per spike, grain weight per spike, grain yield per meter, biological yield per meter, harvest index. High heritability was recorded for days to heading, chlorophyll-a, chlorophyll-b, carotenoids, number of grains per spike, grain weight per spike in both the generations. Similarly moderate to high genetic advance was observed for chlorophyll-b, seed density, grain weight per spike. Therefore these traits must be given importance during the selection for genetic improvement.