A research work was undertaken at Rice Research Station (RRS), Tirur during navarai, 2011 (January-April), sornavari, 2011 (May to August), samba, 2011 (Sep-December) and sornavari, 2012 (April-July) to determine the response of selection for grain yield and yield related components and to estimate the amount of genetic potential transferred from one generation to next generation using different segregating generations of rice. In the present study, segregating generations viz., F2, F3 and F4 generations of ADT 39 x TRY 2 and JGL 3844 x CST 7-1 were evaluated for yield and its related traits using descriptive statistics and parent progeny regression analysis. The mean, median and mode were dissimilar for all the traits in almost all the generations of both the crosses indicated that the distribution was asymmetrical. The coefficient of variation was high in F2 whereas in forwarding generations of F3 and F4 it was low, indicating that the settle down of homozygosity. The mean was high compared to the median and mode for grain yield indicating that the distribution was positively skewed. Hence, selection for grain yield may be practiced among the progenies. The kurtosis value was less than three in almost both crosses, indicated that the progenies were not bunched around the mode in all generations. In respect of days to 50 per cent flowering (DFF) and plant height, F2 generation showed high mean performance than in F3 generation and similarly F3 generation showed high mean performance than in F4 generation in both the crosses. This indicates that there was a reduction in mean value for days to 50 per cent flowering and plant height over advancement of generations. Positive and highly significant correlation and regression coefficient were observed for single plant yield, days to 50 per cent flowering, plant height, number of productive tillers per plant and panicle length between F2 and F3 and F3 and F4 generations. The results indicated that F2 and F3 are good indicators of F3 and F4 performance for all the traits. In both crosses, the identified superior genotypes were fixed as homozygous lines in F5 generation. These lines were evaluated in yield trials viz., Initial Yield Trial (IYT), Preliminary Yield Trial (PYT) and Advance Yield Trial (AYT) along with the check varieties. Based on the yield advantage over the check varieties, two cultures viz., TM 10240 (ADT 39/TRY 2) and TM 12202 (JGL 3844/CST 7-1) were nominated for Multi Location Trial. Hence, selection of high yielding genotypes at early generation based on these characters is valuable for identification of promising cultures.