By NIRF 2025 Management rank, the leading PGDM-awarding institutes are IMT Hyderabad (72), MDI Gurgaon (9), XLRI Jamshedpur (10), SPJIMR Mumbai (20), IMT Ghaziabad (30), MICA Ahmedabad (33), Great Lakes Chennai (37), TAPMI Manipal (39), IMI New Delhi (40), Goa Institute of Management (43), FORE School of Management (59). Two-year fees run from about ₹16 lakh to ₹31 lakh, and the latest average packages range from roughly ₹12 LPA to ₹34 LPA.

“Which PGDM college should I actually apply to?” It’s the question aspirants ask us most often, and the honest answer has less to do with rank than with three things: your CAT or XAT percentile, what you can spend (between ₹16 lakh and ₹31 lakh for two years) and the job you want at the end of it.

So this guide to the PGDM best colleges in India for 2027 does more than list names. For 11 NIRF-ranked institutes, it puts the two-year fee next to the average and median package, works out how quickly each course pays for itself and shows which schools are realistic at your percentile. Every figure carries its batch year and a source.

One note before you start: this blog is run by IMT Hyderabad. We’ve set out exactly how the list was built, so you can judge it for yourself.

PGDM Best Colleges in India for 2027: The Quick List

Here’s the shortlist most serious aspirants start with. This table of PGDM best colleges in India only includes institutes that award a PGDM, not a university MBA. IMT Hyderabad is listed first, and the rest follow in NIRF 2025 order. Fees are approximate two-year totals, and the placement figure is the latest reported average, with the batch year in brackets.

Institute	City	NIRF 2025	Two-year fee (approx.)	Latest average CTC	Main exams
IMT Hyderabad	Hyderabad	72	₹16 lakh	₹12.2 LPA (2025)	CAT, XAT, GMAT
MDI Gurgaon	Gurugram	9	₹26.5 lakh	₹29.5 LPA (2026)	CAT, GMAT
XLRI Jamshedpur	Jamshedpur	10	₹30.6 lakh (tuition)	₹31.4 LPA (2026)	XAT, GMAT
SPJIMR	Mumbai	20	₹24.9 lakh	₹33.75 LPA (2026)	CAT, XAT, GMAT
IMT Ghaziabad	Ghaziabad	30	₹23 lakh	₹18.15 LPA (2026)	CAT, XAT, GMAT
MICA	Ahmedabad	33	₹28 lakh	₹20.1 LPA (2026)	CAT, XAT, GMAT + MICAT
Great Lakes	Chennai	37	₹22.5 lakh	₹15 LPA (2026)	CAT, XAT, GMAT, CMAT
TAPMI	Manipal	39	₹23.2 lakh	₹13.9 LPA (2026)	CAT, XAT, GMAT
IMI New Delhi	New Delhi	40	₹23.5 lakh (academic)	₹17.9 LPA (2025)	CAT, XAT, GMAT
Goa Institute of Management	Goa	43	₹21.7 lakh	₹16.27 LPA (2025)	CAT, XAT, GMAT, CMAT
FORE School of Management	New Delhi	59	₹23.2 lakh	₹16.8 LPA (2025)	CAT, XAT, GMAT

How We Chose the PGDM Best Colleges in India (and Why IIMs Aren’t Listed)

Every institute on this list had to pass three tests:

•     It awards a two-year, AICTE-approved PGDM, not a university MBA.
•     It appears in the NIRF 2025 Management ranking, the latest official ranking.
•     It has published placement figures for a named batch in the last two years, so you can check the numbers.

We then compared every school on the same four measures: the total two-year fee (and what it covers), the average package, the median package where one is published, and the fee-to-salary ratio. Fees are for the 2026–28 batch unless stated, and all figures were last checked on 28 October 2026.

On the order: IMT Hyderabad appears first and is highlighted because this is its blog, not because of its rank. Its NIRF position (72) sits in the same column as everyone else’s. The other ten follow NIRF 2025 order.

This isn’t every PGDM school in NIRF. To keep the tables readable, we focused on the flagship campuses aspirants shortlist most. NIRF 2025 also ranks PGDM schools such as Jaipuria Noida (41), IMI Kolkata (42), Great Lakes Gurgaon (50), IRMA Anand (54), LIBA Chennai (55) and BIMTECH Greater Noida (61), and they deserve a look on the same measures.

The IIMs are missing for a different reason. Since the IIM Act, 2017, they award MBA degrees, as do NMIMS, SIBM Pune and FMS Delhi. That’s a difference in the label, not in quality, and our guide to business schools in India covers both groups together.

Top PGDM Colleges in India: A Closer Look

IMT Hyderabad

 IMT Hyderabad was set up in 2011 as part of the IMT group, which has run management education since 1980. Its 30-acre residential campus in Shamshabad is about 15 minutes from Rajiv Gandhi International Airport.

 

Fact	IMT Hyderabad
NIRF Management rank	72 in 2025, up from 97 in 2024
Approvals and accreditation	AICTE approved; NBA accredited; AIU equivalence to MBA; SAQS (AMDISA) accredited; member of AACSB and EFMD
Programmes	PGDM, PGDM (Finance), PGDM (Marketing), PGDM (Logistics and Supply Chain Management)
Total fee	₹16 lakh for batch 2026–28, including hostel and mess
Placements, batch 2023–25	Average CTC ₹12.2 LPA; highest CTC ₹31 LPA; 93% placed; 78+ recruiters
Placements, batch 2024–26	Interim highest CTC ₹71.2 LPA (as of 27 March 2026)
Summer internship	12 weeks, compulsory

Three things stand out. Average CTC has stayed above ₹12 LPA for three batches in a row. The fee includes hostel and mess, so the real cost is lower than it looks next to schools charging ₹20 lakh or more for tuition alone. And Hyderabad’s cluster of GCCs, IT firms and pharma companies puts live projects and internships within easy reach. Recruiters include Goldman Sachs, D.E. Shaw, Deloitte, Salesforce and PepsiCo.

The full breakdown is in the IMT Hyderabad placement report 2025.

XLRI Jamshedpur

XLRI’s PGDM (BM) and HRM batch of 2024–26 placed 576 students with an average of ₹31.40 LPA and a median of ₹29 LPA. In HR, XLRI has no real rival. Admission is through XAT on 3 January 2027, and our XAT 2027 preparation guide covers each section.

MDI Gurgaon

MDI’s flagship PGDM reported an average of ₹29.5 LPA and a median of ₹29 LPA for 2024–26, with 157 recruiters. A median that close to the average tells you the whole batch did well, not just the top slice.

SPJIMR Mumbai

SPJIMR placed 100% of its Class of 2026 at an average of ₹33.75 LPA and a median of ₹32.85 LPA. It’s the best fee-to-salary value on this list, but it shortlists heavily on profile, so a high score alone won’t get you in.

IMT Ghaziabad

The IMT group’s flagship campus closed 2024–26 placements at an average of ₹18.15 LPA and a median of ₹17 LPA. Its large batch brings a wide recruiter base and an alumni network you’ll meet almost everywhere.

MICA, Great Lakes, TAPMI, IMI, GIM and FORE

MICA is the specialist for marketing and communications. Great Lakes and TAPMI are strong southern picks for BFSI and IT. IMI New Delhi and FORE offer a Delhi base at a lower entry score, and GIM Goa runs niche programmes in banking and healthcare. Averages across this group sit between roughly ₹14 LPA and ₹20 LPA.

Fees at the PGDM Best Colleges in India: What Two Years Really Cost

The sticker price at the PGDM best colleges in India ranges from about ₹16 lakh to over ₹30 lakh, but the brochure number isn’t always what you’ll pay. Some fees include hostel and mess. Many don’t. A ₹16 lakh fee that covers food and accommodation can easily work out cheaper than a ₹14 lakh fee that doesn’t.

Fee band (two years)	Institutes on this list	Usually included
Under ₹20 lakh	IMT Hyderabad	Tuition, hostel and mess
₹20–25 lakh	SPJIMR, IMT Ghaziabad, Great Lakes, TAPMI, IMI New Delhi, GIM, FORE	Tuition; hostel varies
Above ₹25 lakh	MDI Gurgaon, MICA, XLRI	Tuition; residential costs often extra

Placements: How to Read the Numbers

A ₹1 crore offer makes the news, but it went to one student. What you need to know is what the middle of the batch earned.

Average, Median and Highest: Which One to Trust?

•     Highest package: shows the ceiling, and almost nothing about you.
•     Average package: useful, but a few big offers can pull it up.
•     Median package: the salary of the student exactly in the middle, and the closest thing to what a typical graduate earns.

Placement Numbers at PGDM Best Colleges in India: Read the Median First

Institute	Batch	Average	Median	Highest
IMT Hyderabad	2023–25	₹12.2 LPA	Top-100 average ₹14.8 LPA	₹31 LPA
SPJIMR	2024–26	₹33.75 LPA	₹32.85 LPA	₹75 LPA
XLRI (BM & HRM)	2024–26	₹31.40 LPA	₹29 LPA	₹59 LPA domestic
MDI Gurgaon	2024–26	₹29.5 LPA	₹29 LPA	₹97.5 LPA
IMT Ghaziabad	2024–26	₹18.15 LPA	₹17 LPA	₹35 LPA domestic

IMT Hyderabad publishes a top-100 average instead of a median. A gap of only ₹2.6 LPA between that and the overall average means good offers reached well beyond a few stars.

The Two-Minute ROI Check

Divide the total two-year fee by the latest average package. The lower the number, the faster the course pays for itself. Below 1.0 is excellent, and up to about 1.5 is reasonable for most families.

Institute	Total fee	Average CTC	Fee ÷ salary
IMT Hyderabad	₹16 lakh	₹12.2 LPA	1.31
SPJIMR Mumbai	₹24.9 lakh	₹33.75 LPA	0.74
MDI Gurgaon	₹26.5 lakh	₹29.5 LPA	0.90
XLRI Jamshedpur	₹30.6 lakh	₹31.4 LPA	0.97
IMT Ghaziabad	₹23 lakh	₹18.15 LPA	1.27
IMI New Delhi	₹23.5 lakh	₹17.9 LPA	1.31
Goa Institute of Management	₹21.7 lakh	₹16.27 LPA	1.33
FORE School of Management	₹23.2 lakh	₹16.8 LPA	1.38
MICA Ahmedabad	₹28 lakh	₹20.1 LPA	1.39
Great Lakes Chennai	₹22.5 lakh	₹15 LPA	1.50
TAPMI Manipal	₹23.2 lakh	₹13.9 LPA	1.67[

The absolute fee still matters, too. A ratio of 1.3 on a ₹16 lakh course means a much smaller loan than the same ratio on a ₹23 lakh course.

Read More:  Why ROI matters more than rankings.

Which of the PGDM Best Colleges in India Fits Your Percentile?

Your test score narrows the list far more than any ranking does, so sort the PGDM best colleges in India by the percentile band most of their admits come from. These bands are indicative, based on recent cycles, and every school also weighs academics, work experience and the interview.

A good shortlist has two or three schools from every band you can reach, so a jump in cut-offs doesn’t leave you without an offer. Our CAT preparation strategy and guide to PGDM entrance exams can help you move up a band.

Your CAT/XAT percentile	Realistic targets	What else matters
75–90	IMT Hyderabad and similar NIRF-ranked PGDM schools	Academics, WAT-PI performance and specialisation fit
85–95	IMT Ghaziabad, MICA, IMI New Delhi, Great Lakes, TAPMI, GIM, FORE	Written ability test and interview carry real weight
95 and above	XLRI (via XAT), MDI Gurgaon, SPJIMR	Profile and interview; SPJIMR is especially profile-heavy

Best PGDM Picks by Career Goal

•     Finance: IMT Hyderabad’s dedicated PGDM (Finance), plus XLRI, MDI and SPJIMR at the top end. See the best finance colleges in India for PGDM.
•     Marketing: IMT Hyderabad’s PGDM (Marketing), MICA, SPJIMR and IMT Ghaziabad.
•     Supply chain: IMT Hyderabad is one of the few schools with a standalone logistics and supply chain PGDM.
•     HR: XLRI is the benchmark, with MDI’s PGDM HRM close behind.
•     Still undecided: a general PGDM lets you choose in year two. Our guide on which PGDM course is best helps.

Read More: Top PGDM Colleges in India: Rankings, Fees, Admissions and ROI

PGDM Admission Timeline for 2027–29

Timeline	What happens	What you should do
November 2026	CAT on 29 November; GMAT runs year-round	Finish mocks; register for XAT
December 2026–January 2027	XAT on 3 January; CAT results around early January	Apply to 8–10 schools across score bands
February–March 2027	Shortlists, WAT and interviews	Prepare a one-page profile; practise WAT-PI
April–May 2027	Offers, waitlists and fee deadlines	Compare offers on ROI, not rank alone
June–July 2027	Programmes begin	Loan paperwork and hostel move-in

Check your PGDM course eligibility early.

If GMAT is your route, see our GMAT admission guide, and when the interview call comes, read how to crack WAT-PI at IMT Hyderabad.

Conclusion

There’s no single best PGDM college. XLRI, MDI and SPJIMR set the bar on salaries, the middle group offers strong outcomes at a lower entry score, and IMT Hyderabad gives you an all-inclusive ₹16 lakh fee with placements that keep climbing.

The smart move is to treat the PGDM best colleges in India as three short lists: schools you’re aiming for, schools you’re likely to get, and safe options you’d still be happy to join. Check the fee, the median and the batch year for each one.

If IMT Hyderabad is on your list, apply for PGDM or book a campus tour.

Frequently Asked Questions

Which are the PGDM best colleges in India for 2027 admissions?

Leading PGDM institutes in the NIRF 2025 ranking include IMT Hyderabad, MDI Gurgaon, XLRI Jamshedpur, SPJIMR Mumbai, IMT Ghaziabad, MICA, Great Lakes Chennai, TAPMI, IMI New Delhi, GIM Goa and FORE. NIRF 2026 had not been released as of 28 October 2026.

Is a PGDM equal to an MBA in India?

Yes. A PGDM from an AICTE-approved institute with AIU equivalence is treated as equal to an MBA for jobs and higher studies.

Which is the best PGDM college in Hyderabad?

IMT Hyderabad is the highest-ranked standalone PGDM institute in Hyderabad in NIRF 2025, at rank 72. It is AICTE approved, NBA accredited and SAQS accredited, with a ₹16 lakh fee that includes hostel and mess.

Which PGDM college has the highest average package?

SPJIMR Mumbai reported the highest average for the Class of 2026 at ₹33.75 LPA, followed by XLRI at ₹31.40 LPA and MDI Gurgaon at ₹29.5 LPA.

What is the fee for a PGDM at a top college in India?

Two-year fees at NIRF-ranked PGDM institutes range from about ₹16 lakh to ₹31 lakh. IMT Hyderabad sits at the lower end at ₹16 lakh including hostel and mess.

Can I get into a good PGDM college without CAT?

Yes. XLRI admits through XAT, and most top PGDM schools, including IMT Hyderabad, also accept XAT and GMAT.

When will the NIRF 2026 rankings be released?

The Ministry of Education had not announced a date as of 28 October 2026. NIRF 2025, released on 4 September 2025, is still the latest official ranking.