Drought is a crucial environmental stress that tremendously impacts maize production, particularly under abrupt climate changes. Consequently, breeding drought-tolerant and high-yielding maize hybrids has become decisive in sustaining its production and ensuring global food security under the global fast-growing population. The present study aimed to explore drought tolerance and agronomic performance of newly developed maize inbred lines and their hybrids. Ten newly developed maize inbred lines were crossed with two high-yielding testers using a line × tester mating design. The developed twenty hybrids alongside two high-yielding commercial hybrids were evaluated under water-deficit (5411 m3/ha) and well-watered (7990 m3/ha) conditions in dry summer climate conditions. Highly significant variations were detected among the evaluated hybrids for all studied agronomic traits under well-watered and water-deficit conditions. The inbred lines L10 and L6 were particularly notable, demonstrating the most significant negative general combining ability (GCA) effects for earliness, which is crucial for stress avoidance in both environmental settings. Inbred lines L11, L7, L6, and L1 also showed the highest positive and most significant GCA effects for key yield traits, indicating their potential as parents in breeding programs.