This comparative study was conducted to access the drought tolerance and yield stability in different genotypes of barley. Study was conducted in growing seasons of 2013-14 and 2014-15 by imposing two water regimes viz. optimal and water stressed. Result of study revealed sufficient genetic variability among the genotypes, substantial expression of genetic potential and the importance of selection was based on stress condition. The mean squares of irrigation regimes explained most of the variations for all the traits in both growing seasons, indicating the relative importance of the genotypes in drought tolerance. Water deficient conditions highly affect the various growth parameters, yield and yield traits in both the studied growing seasons. Among the studied genotypes, Line 2 genotype have minimum heading and maturity time so this genotype could be use as a source of earliness in breeding program. Further, Line 7 and Line 11 genotypes showed highest yield potential under water deficit condition in both seasons, possessed high values for MP, YSI, STI, GMP, YI, and least SSI values less than one indicating suitability of these genotypes for drought tolerance and desirability for both water deficit and non-deficit conditions.