Both the devices are powered by 1.2GHz Qualcomm Snapdragon 200 quad core processor and have dual-SIM capability.

Canvas Win W121, which is a higher end handset, features a 5-inch IPS HD display and supports an 8MP rear camera with flash and a 2 megapixel front camera.
The device has 8 GB of internal memory, which is expandable upto 32 GB with the use micro-SD card.

While the other handset by Micromax - Canvas Win W092 supports a 4-inch IPS WVGA display. The device has 5MP rear camera with LED flash and 0.3MP front-facing camera.  Just like the Canvas Win W121, the Canvas Win W092 has an 8GB of internal energy which is expandable upto 32 GB.

W092 is powered by a 1500 mAh battery.