Even if IIMs are excluded there are numerous good colleges including those in the government sector such as FMS, DU New Delhi, IIT Delhi, IIT Bombay, IIFT New Delhi and Kolkata and JBIMS Mumbai as well as those in the private sector such as ISB Hyderabad and Mohali, XLRI Jamshedpur and NCR, MDI Gurugram and Murshidabad, SIBM Pune and SPJIMR Mumbai.

1. Faculty of Management Studies – FMS, Delhi University

The FMS at Delhi University is distinct in a number of ways, it is situated in the Delhi University enclave across from Kirori Mal College. Despite being one of the top management schools in the country, the best ROI college offering one of the best average packages and charging incredibly low tuition, it is not included in the NIRF.

• Location: New Delhi
• NIRF 24 Ranking: - 
• IIRF Govt 25 Ranking: 2
• Name of Program: MBA
• Program Fees : 2.29 Lakh
• Average Package: 34.1 LPA
• Entrance Exam: CAT

2. DOMS, Indian Institute of Technology Delhi – IIT Delhi

Situated within 320 acres in the centre of South Delhi, this top engineering college boasts a swimming pool, a gym, a squash court and more. It is ranked at 150 in the QS World Engineering Rankings and at number 4 in the NIRF Management Ranking which includes one of the most up-to-date libraries.

• Location: New Delhi
• NIRF 24 Ranking: 4
• IIRF Govt 25 Ranking: 16
• Name of Program: MBA
• Program Fees : 12 Lakh
• Average Package: 25.82 LPA
• Entrance Exam: CAT

3. SJMSOM, Indian Institute of Technology Bombay - IIT Bombay

IIT Bombay's Shailesh J. Mehta School of Management (SJMSoM) is named for a well-known alumnus who serves as a board member of numerous organisations and is a US-based venture capitalist.  IIT Bombay is a leading engineering and technology university and along with FMS, DU and JBIMS Mumbai, one of the best colleges for ROI in the management category.

• Location: Mumbai
• NIRF 24 Ranking: 10
• IIRF Govt 25 Ranking: 10
• Name of Program: MBA
• Program Fees: 3.65 Lakh
• Average Package: 28.01 LPA
• Entrance Exam: CAT

4. Indian Institute of Foreign Trade – IIFT

IIFT, which is part of the Indian government's Ministry of Commerce, offers three campuses for MBA education: Kakinada (Andhra Pradesh) for its five-year integrated MBA program, and Delhi and Kolkata for regular and executive MBA programmes in international business. Students have to score well in the CAT exam to be admitted to IIFT, earlier it used to conduct its own entrance exam.

• Location: New Delhi & Kolkata
• NIRF 24 Ranking: 15
• IIRF Govt 25 Ranking: 11
• Name of Program: MBA
• Program Fees : 21.82 Lakh
• Average Package: 27.3 LPA
• Entrance Exam: CAT

5. Jamnalal Bajaj Institute of Business Studies – JBIMS

One of the best government management schools in the nation is the Mumbai-based Jamnalal Bajaj Institute of Management Studies. To be eligible to study at this esteemed university, candidates must achieve exceptionally high scores on the CAT, CMAT and MH-MBA/MCA CET. Although JBIMS charges a nominal fee, the average package that its students are offered is among the best in the nation. The institute offers two degrees: Master of Management Studies (MMS) and Master of Human Resource Management (MHRD).

6. Xavier School of Management – XLRI

One of the oldest management schools in the nation, Xavier School of Management is based in Jamshedpur, is ranked ninth in the management category by NIRF 2024, and is regarded as the best in the nation for human resource education. It opened a new campus in the Delhi NCR area.

• Location: Jamshedpur & Delhi-NCR
• NIRF 24 Ranking: 9
• IIRF Private 25 Ranking: 2
• Name of Program: PGDM
• Program Fees: 30.6 Lakh
• Average Package: 29.9 LPA
• Entrance Exam: XAT

7. Management Development Institute – MDI

If we exclude ISB from that list, the Management Development Institute (MDI) in Gurugram is among the top private B schools in the nation along with SPJIMR, SIBM and SCMHRD for its top PGDM programs,  the IIRF 25's number two private management college accepts CAT scores. Another campus in Murshidabad (WB) has been in operation for a few years.

8. SP Jain Institute of Management & Research – SPJIMR

The average package offered to SPJIMR graduates is among the best in the nation and the school, which bears the name of the late industrialist and lawmaker Shreyansh Prasad Jain, also offers an international MBA program. In addition to Mumbai, SP Jain Global has campuses in Dubai, London, Singapore, and Sydney.

• Location: Mumbai
• NIRF 24 Ranking: - 20
• IIRF Private 25 Ranking: 2
• Name of Program: PGDM
• Program Fees : 22.5 Lakh
• Average Package: 33 LPA
• Entrance Exam: CAT & GMAT

9. Symbiosis Institute of Business Management – SIBM

Among the Symbiosis group of institutes with locations in other cities, such as Hyderabad and Nagpur, SIBM which is based in Pune, is the best management college along with SCMHRD. Since they have other branches like law etc., this group is the primary one for education. NIRF ranked this group at number 13 in the management category, accepting the SNAP score.

• Location: Pune
• NIRF 24 Ranking: 13
• IIRF Private 25 Ranking: 6
• Name of Program: PGDM
• Program Fees: 27.77 Lakh
• Average Package: 25 LPA
• Entrance Exam: SNAP

10. Indian School of Business – ISB

With campuses in Hyderabad and Mohali, ISB is a distinct kind of management school. The PGDM is finished in less time, the fees are high and the batch size is among the largest in the nation. ISB is rated as the best in the nation by nearly all international agencies.

• Location: Hyderabad & Mohali
• NIRF 24 Ranking:-
• IIRF Private 25 Ranking:-
• Name of Program: PGP
• Program Fees :39.13 lakhs
• Average Package: 32.05 LPA
• Entrance Exam: GMAT & GRE

Conclusion :

The information presented above may lead to the following conclusions:

1. Except for IIMs, the top ten MBA/PGDM colleges ranked by MBAGATE include five government and five private institutions.

2. ISB and XLRI are the top two colleges with the highest fees while FMS-DU, JBIMS and IIT Mumbai charge the lowest.

3. ISB has a maximum of 820 seats for its PGP programme.

4. The top ROI colleges are FMS-DU, IIT Bombay and JBIMS.

5. The top three colleges with the highest average packages are FMS-DU, SPJIMR and ISB.