Estimates of heterosis and inbreeding depression were obtained for 28 crosses. For pod yield per plant, the maximum better parent and mid parent heterosis was recorded in the cross TCGS-584×K-1375 closely followed by K-1375×TCGS-647 and ICGV-99029 x K-1375. Kernel yield per plant, the range of heterosis was observed -11.10% (TIR-25 x ICGV- 91114) to 57.61% (K-1375 x TCGS-647), -14.18% (TIR-25 x ICGV-91114) to 55.85% (K-1375 x TCGS-647) and -21.57% (TCGS-584 x TCGS-647) to 23.09% (TPT-4 x TIR-25) over mid parent, better parent and standard parent respectively. For the important of moisture stress tolerant characters viz., for specific leaf area, highest negative heterosis was recorded by TCGS-584 x JL-220 over mid parent (-23.12%), better parent (-25.14%) and standard parent (-34.95%). For leaf area index, TCGS 584 x JL-220 (-22.36%) over mid parent, TIR-25 x JL-220 (-33.81%) over better parent and ICGV-99029 x K-1375 (-24.14%) over standard parent for transpiration rate, ICGV-91114 x ICGV-99029 over mid parent (-26.33%) and better parent (-32.21%) and TPT-4 x TIR -25 over standard parent (-15.06%) hybrid showed desired significant heterosis. It was evident that ICGV-91114 x TCGS-584 for SPAD chlorophyll meter reading, TIR- 25 x TCGS-584 for photosynthetic rate, ICGV-91114 x ICGV-99209 for water use efficiency and TIR-25 x JL-220 for harvest index and as many as twenty two crosses for yield displayed higher levels of heterosis also had high inbreeding depression.