I am currently pursuing milestone 2 in wings2 program , any idea how much hike i should expect?

Which Role job area? What is your current grade? Your CTC? Your last appraisal band? Last promotion?

How much hike you received in pp1?

General idea is that if you choose a higher R level than M1, then you will get a good hike.

Like R1 > R2, R2 > R3

If same level, then not so much.