Wheat is a rich source of vegetarian protein and carbohydrates; therefore is widely consumed by the majority of the world population. The superiority of yield and component traits facilitates improved productivity of food crops. Therefore in the present study, 72 genotypes along with three checks were evaluated for grain yield and contributing traits. The analysis of variance revealed that variance due to genotypes was highly significant for biological yield per plant (BY/P) (50.01), numbers of grains per spike (G/S) (118.51), grains yield per plant (GY/P) (27.69), days to maturity (DM) (23.34), the days to 50% flowering (DF) (16.43), and ear length (EL) (1.71). High heritability in a broad sense (h2(b)) associated with high genetic advance as percent mean (GAM) was observed for BY/P (h2 (b): 75.19% & GAM:42.37%), G/S (h2 (b):63.39%& GAM:21.52%) and GY/P (h2(b):59.47% & GAM:39.69%) respectively. Correlation analysis revealed that most of the studied yield component traits showed a significant positive correlation with GY/P. Based on path coefficient analysis, BY/P (0.825) and harvest index (HI) (0.553) were found to have significant direct effects on GY/P. The principal components analysis (PCA) five principal components (Eigenvalue≥1) accounted for 77.11% commutative variance. Clustering analysis classified the wheat genotypes into nine clusters where inter-cluster Euclidean distances varied from 18.79 to 174.38. Considering all studied characters, two genotypes namely SR-111 and SRW-41 emerged as the best genotypes and showed significantly higher performance as compared to commercial checks and other genotypes. The precise selection of high-yielding genotypes accelerates the yield production of wheat.