Top MBA Colleges in Indore Based on 2024 Ranking

The best MBA colleges in Indore include IIM Indore and PIMR, Institute of Business Management & Research, etc. Indore, the Education hub in Madhya Pradesh is home to 87 premier and prestigious MBA colleges in India. There are 79 private and 7 MBA government colleges in Indore. The best MBA colleges in Indore are approved by AICTE and offer courses with various MBA specializations including Finance, Marketing, HRM, IT, etc.

  • Indian Institute of Management - IIM Indore is ranked 6 among the best MBA colleges in India by NIRF rankings and is the best MBA college in Indore.
  • The best MBA government colleges in Indore include IIPS Indore, IIM Indore, SGSITS Indore, and Devi Ahilya Vishwavidyalaya Indore.
  • Admissions into the best MBA colleges in Indore are done based on the scores of MBA entrance exams followed by a GD/ PI round. 
  • SAGE University, Oriental University, and IIBS Indore are some of tfhe top MBA colleges in Indore without entrance exams. Check: Top Private MBA colleges in Indore
  • The average MBA fees in the best MBA colleges in Indore range between INR 60,000 - 8.68 Lakhs annually. GSIMR Indore, VGI Indore, and IIM Indore are the best MBA colleges in Indore with low fees. Check: Top MBA colleges in MP
  • The best MBA placement colleges in Indore include IIM Indore, IMS DAVV, PIMR Indore, etc. The average placement package offered by the best MBA colleges in Indore is between INR 23 - 27 LPA. Check: Top MBA colleges in Bhopal

Check:

Top 10 MBA Colleges in Indore

Indore also got the title of the "cleanest city in India" and the "Mini Mumbai of MP" is home to more than 87 best MBA colleges in India. Tabulated below are the Top 10 MBA colleges in Indore with MBA/PGDM seat intake.

College/ University Name  MBA/PGDM Seat Intake
Indian Institute of Management - [IIM], Indore 662
Prestige Institute of Management and Research - [PIMR], Indore 1200
Institute of Business Management & Research - [IBMR], Indore 420
Indore Management Institute and Research Centre - [IMI], Indore 660
Jaipuria Institute Of Management, Indore 180
CH Institute of Management & Commerce - [CHIMC], Indore 162
Narsee Monjee Institute of Management Studies -[NMIMS Deemed to be University], Indore 180
Institute of Management Studies, Devi Ahilya Vishwavidyalaya - [IMS-DAVV], Indore 120
International Institute of Professional Studies - [IIPS], Indore 120
BM College of Management and Research - [BMCMR], Indore 420

Top MBA Colleges in Indore: Ranking

The colleges and universities are judged and ranked on parameters like the Perception of the university, Faculty Quality, Student-Teacher Ratio, Placements, etc. Rankings of Top MBA Colleges in India are released every year by various ranking agencies like NIRF, Outlook, India Today, etc.

Top MBA Colleges in Indore: NIRF Ranking

National Institutional Ranking Framework is a government-adopted Ranking method that ranks the best educational institutions. NIRF ranks the institutions based on 5 major parameters which carry different weightage to get a ranking. The weightage of various parameters that are used to rank an Institute among the top MBA colleges in India in the NIRF Ranking List is tabulated below for individual parameters.

NIRF Ranking Parameters Weightage

IIM Indore and Jaipuria Institute of Management are the only MBA Colleges in Indore that have been ranked in the NIRF Ranking list of the top 125 MBA colleges in India. The table below lists the top MBA colleges in Indore ranked by NIRF ranking in the management list.

NIRF Ranking 2022 College Name NIRF Rankings
7 Indian Institute of Management, Indore 70.66
102 - 125 Jaipuria Indore - Jaipuria Institute of Management -

Check  IIM Indore Selection Criteria

Top MBA Colleges in Indore: The Times Ranking

The Times, which is one of the most popular and widespread newspapers/ magazines in India, also ranks among the best educational institutions in India. Every year The Times conducts a survey and publishes a list of top educational institutions in India for different domains. The Times considers various parameters such as Education quality, facilities, infrastructure, faculties, placements, etc. to rank a college.

The Times Ranking 2022 College Name
53 IPS Academy
57 Prestige Institute of Management and Research
65 Govindram Seksaria Institute of Management and Research

Top MBA Colleges in Indore: India Today Ranking

India Today is a weekly Indian English Language news magazine published by Living Media India Limited. Every year, India Today releases a list of Top MBA colleges in India based on parameters like:

  • Learning Experience
  • Placement Performance
  • Future Orientation
  • Living Experience
  • Selection Process, Governance, and Establishment

The table below lists the details of IIM Indore, which again was the only institute ranked by the agency from Indore among the best colleges in India.

College Name India Today Rank 2019 India Today Rank 2018 Change Average Annual Fee
IIM Indore 4 7 +3 INR 8,00,000
  • The institute ranked 4th in the 2022 survey of India Today.
  • It obtained a score of 784.7 out of 1000 and increased by 3 positions as it ranked 7th in the survey.
  • The average annual fee is INR 8 Lacs.

These rankings undoubtedly prove that IIM Indore is the best MBA College in Indore. Anyhow, the name tag of an IIM is itself enough to boost your career in the management sector. If you want to know about what all different job sectors are open for you after pursuing an MBA, read about MBA Career Options and Jobs.

Top MBA Colleges in Indore with Fees Structure

Tabulated below are some of the best MBA colleges in Indore along with their fee structure.

College/ University Name  Average Annual Fees 
Indian Institute of Management - [IIM], Indore INR 8,50,711
Prestige Institute of Management and Research - [PIMR], Indore INR 1,19,500
Jaipuria Institute of Management, Indore INR 4,37,500
Institute of Business Management & Research - [IBMR], Indore INR 1,15,000
Prestige Institute of Engineering Management and Research - [PIEMR], Indore INR 1,57,000
Shri Vaishnav Institute of Management - [SVIM], Indore INR 73,620
CH Institute of Management & Commerce - [CHIMC], Indore INR 58,000
Narsee Monjee Institute of Management Studies -[NMIMS Deemed to be University], Indore INR 2,77,000
Institute of Management Studies, Devi Ahilya Vishwavidyalaya - [IMS-DAVV], Indore INR 63,211
International Institute of Professional Studies - [IIPS], Indore INR 81,822

Top MBA Colleges in Indore with Low Fees

There are some MBA colleges in Indore that offer MBA courses with average lower fees than many other top MBA colleges in India. Listed below are the Best MBA colleges in Indore with low Fees:

College/ University Name  Average Annual Fees 
Vindhya Institute of Management & Research, Indore INR 37,000
Prestige Institute of Management and Research - [PIMR], Indore INR 1,19,500
Lakshmi Narain College of Technology & Science - [LNCTS], Indore INR 35,000
Prestige Institute of Engineering Management and Research - [PIEMR], Indore INR 1,57,000
Vindhya Institute of Technology & Science - [VITS], Indore INR 37,000
Lakshmi Narain College of Technology & Science - [LNCTS], Indore INR 37,000
Swastika Institute Of Higher Education and Technology - [SIHET], Indore INR 35,400
Dr. B. R. Ambedkar University of Social Sciences, Indore INR 30,590
Patel Group of Institution - [PGOI], Indore INR 35,000
Sushila Devi Bansal College, Indore INR 30,000

Government MBA Colleges in Indore

The best MBA government colleges in Indore offer high placement opportunities and ROI (Return of Investment). Some of the best Government MBA colleges in Indore are tabulated below with average annual fees:

College/ University Name  Average Annual Fees 
International Institute of Professional Studies - [IIPS], Indore INR 81,822
Prestige Institute of Management and Research - [PIMR], Indore INR 1,19,500
Prestige Institute of Engineering Management and Research - [PIEMR], Indore INR 1,57,000
Shri Govindram Seksaria Institute of Technology and Science- [SGSITS], Indore INR 1,18,015
Dr. B. R. Ambedkar University of Social Sciences, Indore INR 30,590
Directorate of Distance Education, Devi Ahilya Vishwavidyalaya - [DDE DAVV], Indore INR 27,750
Shri Atal Bihari Vajpai Govt Arts and Commerce College - [GACC], Indore INR 41,601

Private MBA Colleges in Indore

Tabulated below is the list of top Private MBA colleges in Indore along with their fee structure.

College Name Average Fee (INR)
NMIMS University, Indore 13.82 lakhs–14.54 lakhs
Jaipuria Institute of Management, Indore 7.75 lakhs
Prestige Institute of Management and Research 2.38 lakhs
Symbiosis University of Applied Sciences 11.3 lakhs
Medi-Caps University 1.75 lakhs

Top MBA Colleges in Indore: ROI (Return on Investment)

Return on Investment (ROI) is the count of the profitability of a college in terms of placements and fees. It is one such factor that must be kept in mind while deciding on a college. Given below is a list of top MBA colleges in Indore ROI-wise.

College Name Average Annual Fee Average Placement Package ROI Rank*
IMS Devi Ahilya Vishwavidyalaya INR 60,000 INR 3,50,000 1
Amity Global Business School, Indore INR 1,20,000 INR 4,00,000 2
Indian Institute of Management, Indore INR 8,00,000 INR 20,79,000 3
Prestige Institute of Management INR 1,19,500 INR 3,00,000 4

*ROI Percentage={(Average Placement Package)/(Average Annual Fee)}*100%

  • Institute of Management Studies, Devi Ahilya Vishwavidyalaya is the best MBA College in Indore in terms of Return on Investment.
  • It offers an average placement package of INR 3.5 LPA with an average fee of INR 60,000.

Top MBA Colleges in Indore: Cutoff

The table below provides you with some links giving information about the cutoff scores of top MBA colleges in Indore.

College Name Exam Cutoff
Jaipuria Institute of Management, Indore XAT 60
ATMA 65
CAT 50
Indian Institute of Management (IIM), Indore CAT 97

Top MBA Colleges in Indore: Admission Process

There are a total of 81 colleges in MBA Colleges in Indore out of which 72 are private and 9 are public. The following chart shows their ratio:

Number of Top MBA Colleges in Indore


Admissions to top MBA colleges are done mainly through entrance exams like CAT, XAT, GMAT, etc. The following table shows the number of colleges in Indore accepting their score.

Exam Name No. of Colleges Accepting Score
CMAT 33
CAT 16
MAT 8
XAT 7
ATMA 5

IIM Indore

Indian Institute of Management situated in Indore was established in 1996 and is the sixth sibling to the chain of IIMs. IIM Indore is the only MBA College in Indore that has been ranked by ranking agencies.

  • IIM Indore has released the provisional shortlist for the PI of the PGP and PGP HRM batches of 2023-25.
  • For MBA 2022-24, the CAT cutoff for shortlisting is the same as that of previous years i.e 90 percentile. However, students with an overall percentile of 99-100 received admission calls.

IIM Indore Placement Highlights

IIM Indore recently completed the 2022 placement drive of its PGP & IPM batch. The highest salary increased by 18% & the average salary increased by 6% compared to the previous year. Consulting firms were the top recruiters as 31% of the offers came from the consulting sector and 20% of the offers were made from Finance firms. 30 new recruiters visited the campus this year. Some of the major recruiters included Accenture, Deloitte, EY, Infosys, Crisil, DE Shaw, Goldman Sachs, HDFC Bank, and many more. Here are the highlights of the placement drive:

  • A total of 180 recruiters visited the campus. 
  • The highest salary package stood at INR 49 LPA.
  • An average salary of INR 25.01 LPA was offered to the students.
  • The top 100 students bagged an average salary of INR 37.95 LPA during the 2022 placement drive.
  • The top 200 students received an average salary of INR 32.75 LPA.

IIM Indore Placements Report

Particulars Placement Statistics (2019-21) Placement Statistics (2020-22)
Number of Students 579 572
Number of Recruiters 210+ 180+
Highest international CTC INR 56.8 LPA -
Highest Domestic CTC INR 41.5 LPA INR 49 LPA
Average CTC INR 23.6 LPA INR 25.01 LPA
Major Domains Finance and Sales & Marketing Consulting, Sales, and Marketing
Top Recruiters Amazon, BCG, Cipla Accenture Strategy, BMW, Cisco

The following chart shows the domain-wise placements from IIM Indore:

iim indore placement domain wise

Institute of Management Studies Devi Ahilya Vishwavidyalaya

Institute of Management Studies (IMS) was established in 1969 with the support of the University of Indore. The university is considered to be the best MBA College in Indore in terms of Return on Investment.

  • It is the oldest institute in the city that offers an MBA degree. During the initial days of IMS DAVV, it only offered a “Distance Education” degree in Business Administration, but later increased its capacity.
  • Apart from the two-year MBA program, the institute also offers an MBA program for Executives along with M.Phil and Ph.D. in Management.
  • MBA fees in DAVV Indore for boys are INR 66,822 whereas the annual fee for girls is INR 60,222.
  • The university organizes events like Deeksharambh, Huyrisko, Prabandhanam, and Samagam.
  • The recruiters that visit the campus include Oracle, Godrej, HSBC, ICICI Bank, Reliance, Nestle, etc.

Prestige Institute of Management and Research, Indore

The Prestige Institute of Management and Research was founded in 1994 and has been rated ‘A’ by National Assessment and Accreditation Council (NAAC).

PIMR offers UG and PG courses in the fields of Law, Commerce, Engineering, Business Administration, Journalism, etc. Admission to these courses is done based on entrance test scores as well as candidates’ performance in the previous qualifying examination. PIMR’s MBA program has been recognized by the National Board of Accreditation under AICTE. The candidate has to register at the DTE Madhya Pradesh counseling procedure for its admission.

PIMR Indore Placements_ Domain Wise

Top MBA Colleges in Indore: Entrance Exam Wise

Admission to top MBA colleges in Indore is done through entrance exams like CAT, CMAT, etc. Given below is a list of exams and the colleges that accept these exams.

Top MBA Colleges in Indore Accepting CAT Score

CAT or Common Admission Test is an online exam conducted for postgraduate management programs.

  • The Indian Institutes of Management (IIMs) started the CAT exam for selecting students. However, the test is now accepted by other colleges too.
  • The exam includes Quantitative Ability, Verbal Ability & Reading Comprehension, Data Interpretation, and Logical Reasoning.
  • The paper consists of multiple-choice questions and also has a provision for negative marking.

Top MBA Colleges in Indore Accepting CMAT score

Common Management Admission Test or CMAT is an online computer-based test conducted by the National Testing Agency, India.

  • It is a national-level admission test for selecting students for management programs and is approved by AICTE.
  • It is a 3-hour paper consisting of multiple-choice questions.
  • Negative Marking is allowed in the exam and 1 mark will be deducted from each wrong answer.
  • Top MBA colleges in Indore like Prestige Institute of Management and Research, Institute of Management Studies Devi Ahilya Vishwavidyalaya, etc., accept CMAT scores.

Top MBA Colleges in Indore Without Entrance Exams

Most of the best MBA colleges in Indore offer MBA admissions based on the MBA entrance exam scores. However, some MBA colleges in Indore offer direct MBA admissions without entrance exams. Check out some of the top MBA colleges in Indore without Entrance Exams:

College/ University Name  Average Annual Fees 
Prestige Institute of Management and Research - [PIMR], Indore INR 1,19,500
Institute of Business Management & Research - [IBMR], Indore INR 1,15,000
Prestige Institute of Engineering Management and Research - [PIEMR], Indore INR 1,57,000
Shri Vaishnav Institute of Management - [SVIM], Indore INR 73,620
CH Institute of Management & Commerce - [CHIMC], Indore INR 58,000
Narsee Monjee Institute of Management Studies -[NMIMS Deemed to be University], Indore INR 2,77,000
Institute of Management Studies, Devi Ahilya Vishwavidyalaya - [IMS-DAVV], Indore INR 63,211
International Institute of Professional Studies - [IIPS], Indore INR 81,822
BM College of Management and Research - [BMCMR], Indore INR 55,000
Pioneer Institute of Professional Studies - [PIPS], Indore INR 1,28,500

Top MBA Colleges in Indore: Specialization Wise

The stream in MBA you choose matters a lot and depends on the college as various colleges have reputations for specific streams. 

Top MBA Finance Colleges in Indore

Among the most sought-after specializations in the field of Management, MBA in Finance is a 2-year postgraduate degree course. The course is offered by some of the best institutes in India. The eligibility for pursuing MBA in Finance is a bachelor’s degree in any discipline with an aggregate of 50% marks or an equivalent CGPA (a relaxation of 5% is granted to SC/ST candidates).

Top Colleges in Indore that offer MBA in Finance are:

  • Prestige Institute of Management and Research 
  • Devi Ahilya Vishwavidyalaya
  • International Institute of Professional Studies
  • Pioneer Institute of Professional Studies

Check the top MBA colleges in India streamwise by clicking on the links below:

Top MBA Colleges in Indore: Placement Wise

Colleges in Indore hosted various recruiters from both India and abroad for the placements. The chart below shows the CTCs offered by some of the top MBA colleges in Indore.

CTCs offered in Top MBA Colleges in Indore

Top MBA Colleges in Indore: FAQs

Ques. Which is the best MBA College in Indore?

Ans. Indian Institute of Management, Indore has been ranked the best by many ranking agencies.

Ques. How many MBA colleges are there in Indore?

Ans. There are 81 MBA colleges in Indore out of which 72 are private and 9 are public.

Ques. Which MBA college in Indore offers the best salary?

Ans. IIM Indore offers an average package of INR 22,92,000.

Ques. How can one get admission into top MBA colleges in Indore?

Ans. Admission into the top MBA colleges in Indore is done through entrance exams like CAT and CMAT.

Ques. Which MBA college has the best placement in Indore?

Ans. IIM Indore, Jaipuria Institute of Management Indore, IMS-Devi Ahilya University Indore, and Amity Global Business School Indore are some of the best MBA colleges in Indore for the highest placements.

Ques. Is Indore good for MBA?

Ans. Yes, Indore is one of the best locations in Madhya Pradesh for an MBA. Also, Indore is an Education center for students in Madhya Pradesh. The top IIM colleges in India have their branch in Indore and IIM Indore is ranked 6th among the best MBA colleges in India by NIRF Ranking.

Ques. How many MBA colleges are there in Indore?

Ans. In India, there are around 119 Management colleges in Indore out of which 87 offer MBA courses with various specializations. There are 79 private and 7 MBA government colleges in Indore.

Ques. Is symbiosis Indore good for MBA?

Ans. Yes, Symbiosis Indore is good for MBA. Symbiosis Indore is one of the best private MBA colleges in Indore. Symbiosis Indore offers a high placement package with an average high ROI (Return of Investment), the average package offered to the students is around INR 6.5 Lakhs per year.

Ques. How can I get admission to DAVV Indore for MBA?

Ans. To get admission for MBA into DAVV Indore, aspirants must have to complete their graduation in any stream with a minimum aggregate of 55% marks from a recognized University. Also one may require to qualify for any MBA entrance exam.

Ques. How can I study MBA without fees?

Ans. Yes, there are some scholarships available for financially weak students which offer merit-based and based on the entrance scores. However, the average MBA fees for most of the top MBA colleges in India are quite high and range between INR 5 - 23 Lakhs per year.

Ques. Which are the best MBA colleges for direct admission?

Ans. Some of the best MBA colleges in India without entrance exams and offer direct admission based on the graduation scores obtained by a candidate are listed below:

  • Birla Global University Bhubaneswar
  • CII School of Logistics, Amity University, Noida
  • Symbiosis University of Applied Sciences, Indore

Ques. Which are the different specializations offered in MBA Colleges in Indore?

Ans. The best MBA colleges in Indore offer several different MBA specializations, some of them are:

  • Finance
  • Marketing
  • Human Resources Management
  • Information Technology
  • Business Management
  • Retail Management
  • Foreign Trade
  • Tourism Management

Ques. Can I study MBA without entrance?

Ans. Yes, candidates can opt for MBA courses without taking Entrance exams. There are some private universities or colleges in India that offer direct admissions based on the scores obtained by a candidate in their previous academic tests. However, most of the top MBA colleges in India offer MBA admissions based on MBA Entrance Exams scores.

Ques. Is GMAT tougher than CAT?

Ans. The difficulty level for both entrance exams GMAT and CAT is considered high, however, according to several reports and experience of students, GMAT is much easier than CAT. Also, CAT is considered one of the toughest exams conducted in India.

Ques. What is the fee of IIM Indore?

Ans. The average annual fee of IIM Indore is INR 8 Lacs.

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Panache Academy, Indore

Indore, Madhya Pradesh 
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