It came as a befitting result for last year's runners-up Waveriders, who made their second consecutive final of HIL.
The Waveriders beat Warriors 3-1 in the shoot-out after the regulation 70 minutes ended in a 3-3 tie.
Majority of the credit should go to the Waveriders goalie Nicolas Jacobi, who had a brilliant day under the bar and made numerous saves to guide the Delhi side to the title.
But it was not enough as the Waveriders scored three out of their four chances in the shoot-out to run away with the glittering trophy and Rs 2.5 crore prize purse.
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The Warriors took home Rs 1.25 crore, while the last year's champions Ranchi Rhinos pocketed Rs 75 lakh for finishing third.
Earlier in the day, the Rhinos defeated Uttar Pradesh Wizards too on penalty shoot-out to claim the third place.
Later in the day, the Warriors started on a positive note in the summit clash and took the lead as early as in the opening minute of the match through Mark Knowles' who scored from a field effort.
The Waveriders did not sit back and pressed hard for the equaliser and in the process secured a penalty corner in the eighth minute but Rupinderpal Singh's try was deflected wide by Lucas Rey.