Water stress conditions have occurred in the past in various places of the world, affecting the yield and production of numerous crops, including wheat. The aim of this research was to estimate standard heterosis under two different water regimes for grain yield and its attributes in 33 crosses, which were obtained by crossing 11 lines and 3 testers in a Line × Tester mating design. The best cross combinations for yield and contributing traits under irrigated condition were C4, C8, C33, C24, and C23, compared to both checks HD2967 and PBW660. Whereas, in rainfed condition, C18, C14, C26, C21, and C20 crosses were superior to the checks. For both irrigated and rainfed conditions, the best cross combinations identified were C29, C15, C32, C2, and C31. As a result, these cross combinations could be used in wheat breeding programmes to improve bread wheat genotypes for increased grain yield, agro-morphological features, and water stress tolerance. The presence of high heterosis for yield-contributing traits not only aids in the development of hybrids by exploiting heterosis but also in the production of transgressive segregants to develop elite lines.