Hi Chinmay,
With the onset of exercise heart rate changes, immediately following exercises there is acceleration of heart rate observed. It has been seen that heart rate is increased slightly even before the onset of exercise and it is presumably due to influence of the cerebral cortex on the medullary cardiac centre. Once the exercise is started the rise in heart rate is directly proportional to intensity of the exercise to some extent after which a plateau is observed even though the exercise is further continued. But the response is variable from individual to individual and even with different degrees of work load and type of exercise. For example in trained athlete the rise of heart rate is slower. Besides these other factors like emotions, environmental factors, physical conditions etc. need to be considered.