The world of MBA education offers a plethora of opportunities for those looking to pursue a promising career in the corporate sector. Mumbai, being the financial capital of India, boasts of some of the most renowned MBA colleges in the country that provide world-class education and career prospects. If you have taken the GMAT exam and plan to apply for an MBA in Mumbai in 2023, you are in luck! This article will delve into the top MBA colleges in Mumbai that accept GMAT scores and provide valuable insights into their admission process, fees, and placement opportunities. So, get ready to kickstart an exhilarating journey towards your dream career with an MBA from Mumbai! Mumbai’s top MBA colleges for 2023 are now accepting CMAT scores for admission to their MBA/PGDM programmes. However, before you finalise the colleges that accept CMAT scores, it is imperative to have complete information about the exam and the admission process for Mumbai colleges. Let us first explore the details of the CMAT exam, its schedule, and the cut-off scores for MBA colleges in Mumbai.

What is the CMAT Exam?

The Common Management Admission Test (CMAT) is a national-level entrance exam administered by the National Testing Agency (NTA) that evaluates a candidate’s potential to pursue management programs offered by AICTE-approved colleges and universities across India. The computer-based test assesses candidates in areas such as quantitative techniques, logical reasoning, language comprehension, and general awareness. It consists of 100 multiple-choice questions, with each correct answer carrying four marks and each incorrect answer resulting in a negative mark of one. The exam duration is three hours and is conducted in two shifts on a single day.

Candidates who achieve the minimum cut-off scores set by participating colleges qualify for various management programs such as MBA, PGDM, Executive PGDM, and more. All AICTE-approved institutions, university departments, constituent colleges, and affiliated colleges recognise the CMAT score.

Candidates aspiring for admission to the MBA Course in affiliated colleges/institutes of Dr. A.P.J. Abdul Kalam Technical University (AKTU), Lucknow, previously covered under UPSEE, must apply for CMAT-2022. The CMAT-2022 score sheet will be used for admission to the MBA Course in AKTU-affiliated colleges/institutes in the academic year 2022-23.

After receiving the CMAT score, candidates must apply separately to their desired participating institutions. Each participating institution will then release its respective cut-off CMAT scores. Candidates must meet the score requirement to qualify for admission to that particular institution. Once qualified, candidates must comply with the selection procedure of that particular institution, which may include a group discussion (GD) and personal interview (PI). The final selection of the candidate will be based on their performance in the GD & PI.

When is CMAT Exam held?

Earlier, CMAT was conducted twice a year, but now it is conducted only once a year. Generally, CMAT is conducted every year in the month of January, but for 2023, CMAT has been delayed and will be conducted on 4th May 2023, which is a weekday. This is a deviation from all previous CMAT exams conducted on a Saturday or Sunday. CMAT 2022 was conducted on April 9. The exam had also been delayed in 2021 due to the Covid pandemic.  The admit card for CMAT 2023 is expected by April 28, 2023.  For 2023, CMAT is scheduled in two slots of 3 hours each.

List of best MBA colleges accepting CMAT in Mumbai

Let’s look at the top 15 CMAT-accepting MBA Institutes in Mumbai, along with CMAT cut offs, specialised MBA programs, Fee structure, CMAT colleges rank wise & average placement stats from the recent placement cycle. The list of top MBA colleges accepts the CMAT 2023 scores for the upcoming batch 2023-25. 

KJ Somaiya is one of the top MBA colleges in Mumbai that follows a contemporary curriculum. MBA Sports Management and MBA Healthcare are the Niche profile-based programmes offered by the college.

Fees – 4.15 L – 16.62 L


MBA in International Business

MBA in Retail Management MBA in Financial Services  MBA in Healthcare Management

MBA in Communications Management

Executive MBA
Part-Time MBA
PhD in Management

CMAT 2022 cut-off 80-100

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Median Package- INR 9 LPA


JBIMS Mumbai has consequently been placed in the category of the best business schools across the countries of the Asia-Pacific region. The institute has an exceptional faculty and world-class infrastructure.

Fees- INR 6 L

Master of Management Studies

Master in Human Resource Development

CMAT 2022 cut-off 90+

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Median Package- INR 26.48 LPA


The B-School is known for its progressive higher education that is in sync with the continuously changing socio-economic conditions. Welingkar offers a range of management programs that creates leaders and problem solvers.

Fees- INR 7.01 L- 16.62 L

MBA in Healthcare Management

MBA in Sports Management

Executive MBA

CMAT 2022 cut-off 80-90

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Median Package- 10.93-12.41 LPA


SIMSREE is among the renowned colleges in Mumbai and offers Full-time Masters’s Program with a specialisation in Finance, HR, Marketing, Operations and Systems.

Fees- INR 51 K – INR 1.53 L

Masters in Management Studies

Masters in Management

CMAT 2022 cut-off 80-90

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Median Package- INR 10.97 LPA


VBS is one of the leading MBA colleges in Mumbai that strives to impart excellent management education keeping in mind the changing industry needs and focusing on ethical values.

Fees- INR 8 L

Post Graduate Diploma in Management

CMAT 2022 cut-off 70-80

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Median Package- INR 7 LPA


IES Management College is a prestigious B-school that provides top-class management education and training, equipping its students to meet the present and future challenging industry requirements.

Fees- INR 6 L-7 L


PGDM in Pharmaceutical Management

Executive PGDM

CMAT 2022 cut-off 70-80

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Median Package- INR 7.5 LPA 


ITM is one of the top CMAT colleges in India, situated in Mumbai, that focuses on the growing digital marketing space. The institute endeavours to create global managers for a fast-paced, super-challenging, and evolving industry.

Fees- INR 11 L

PGDM iConnect in Business Analytics/ Financial Markets/ Marketing/ IB/ HRM/ Finance/ Supply Chain Operations Management/Fintech/ Digital Marketing and Transformation/Retail Management and Marketing

CMAT 2022 cut-off 60-70

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Median Package- INR 6.5 LPA- INR 9.2 LPA


SIES Mumbai is one of the MBA colleges in Mumbai with an impressive physical infrastructure and academic ambience. It was the pioneer B-school in the country to start an exclusive vertical pharmaceutical programme.

Fees INR 5L-INR 7 L


PGDM is Pharmaceutical Management

PGDM in Biotechnology

CMAT 2022 cut-off 80-90

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Median Package- INR 7.2 LPA


The curriculum of this leading B-school in Mumbai has been designed to create professionals who can work efficiently in teams amidst a diverse workforce in business environments that see constant technological advances.

Fees INR 15 L


PGDM in Business Analytics

Global Master of Business Administration

PGDM in Financial Management

CMAT 2022 cut-off 70-80

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Median Package- INR 6.5 LPA- INR 10 LPA

The Mumbai Educational Trust (MET) is a multidisciplinary group of institutions that aim to offer professional education and excellent courses to its students. MET Mumbai offers courses and degrees in management, mass media, pharmaceuticals, and information technology.

Fees INR 11 L

PGDM (e-Business)

PGDM (Media & Entertainment)


CMAT 2022 cut-off 70-80

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Median Package- INR 7.5 LPA

UBS is one of Mumbai’s top B Schools and India’s first green B- School. The institute’s internationally accredited British, American & European curriculum creates global leaders who become a part of their global alumni network in 100+ countries.

Fees- INR 8L- INR 16 L

PGDM General

PGDM Business Management+ GMP Management

PGDM in Business Design and Innovation

Global MBA


CMAT 2022 cut-off 70-80

Apply Now

Median Package- INR 8 LPA- INR 10.77 LPA


CMAT 2023 Exam Centers – CMAT 2023 will be held in 110 cities all over India as an online test. 

CMAT 2023 Exam Date & Timings

CMAT-2023 Examination will be conducted by as per the following schedule:

CMAT 2023 Exam Date

Shift -1 Timing

Shift-2 Timing

May 4, 2023 (Thursday)

9 AM to 12 Noon (3 Hours)

2.30 PM to 5.30 PM (3 Hours)

The CMAT Exam 2023 is scheduled for 4th May 2023, where the same scores will be used for admissions at multiple top colleges accepting CMAT scores for MBA programs. There will be two shifts for the exam, with the first shift starting from 9 am to 12 pm and the second shift from 2:30 pm to 5:30 pm. For further details on the exam, you can visit the website:

CMAT Exam Centres 2023

The CMAT Exam 2023 is scheduled to take place at over 245 examination centres throughout India. During registration, candidates are permitted to select up to four CMAT test cities for their convenience to take the CMAT Exam 2023. The following table includes some key CMAT 2023 Exam centres and their respective states.



Andhra Pradesh


Andhra Pradesh















Bhilai Nagar/Durg

















Himachal Pradesh


Himachal Pradesh





 To get details about your centre, visit  – HERE.

Admission Process for MBA Colleges in Mumbai Accepting CMAT 2023 

It is a 4-stage MBA admission process for CMAT accepting colleges in Maharashtra.

Step-1:  Register and Apply for CMAT exam

Step-2: Apply to the B-schools accepting CMAT as per the cut-offs required by the colleges.

Step-3: Personal Interview Round of the college where you have been shortlisted based on your CMAT score. B-schools accepting CMAT in Mumbai, where you have not applied, may also contact you for admissions based on your CMAT score.

Step-4: Final Selection: The final selection is based on the candidate’s overall performance in the entrance exam, group discussion, personal interview, and other criteria set by the respective colleges.

The basic eligibility criteria for MBA programs to get admission into top MBA colleges: 

  1. Educational Qualification: Applicants must have a bachelor’s degree from a recognised university in any discipline. Some MBA programs may require a minimum percentage or grade in the bachelor’s degree.

  2. Work Experience: Some MBA programs may require work experience ranging from 1-5 years, depending on the university or college. However, MBA programs also do not require any prior work experience.

  3. Entrance Exam: Most MBA programs require applicants to take an entrance exam such as CAT, XAT, MAT, GMAT, or CMAT.

  4. Minimum Age: The minimum age for MBA admission is typically 21 years.

  5. English Language Proficiency: Candidates are required to have good English language skills, especially in reading, writing, and communication. Some universities may require TOEFL or IELTS scores as proof of English language proficiency for non-native English speakers.

It’s important to note that the specific eligibility criteria may vary depending on the university or college and the type of MBA program being offered.


Some of the top specialisations offered by top MBA colleges in Mumbai that accept CMAT scores are

1. Finance Management

2. Marketing Management

3. Human Resource Management

4. Operations Management

5.  Information Technology Management     

6. International Business Management

7. Entrepreneurship

It’s important to note that the specific specialisations offered by MBA colleges may vary, and applicants should check with individual colleges for a complete list of available specializations.


1. How many students attempt the CMAT exam every year?

CMAT is one of the important MBA entrance exams conducted in India. More than 70,000 candidates apply for CMAT every year. 

2. Who conducts the CMAT exam?

Until 2018, CMAT was conducted by AICTE, but since then, it has been conducted by National Testing Agency (NTA).

3. Which are the top colleges accepting CMAT scores?

Several top MBA colleges in India such as JBIMS, SIMSREE, K J Somaiya, GIM Goa, PUMBA, Great Lakes, BIMTECH, Rajiv Gandhi National University of Law Punjab accept CMAT score.

4. What is the date for CMAT 2023?

CMAT 2023 is scheduled on 4th May 2023. The online exam will be conducted in two shifts of three hours each.

5. Will the candidate be allotted the test centre chosen during the application?

The candidate will be given the chosen city for CMAT. However, sometimes due to administrative reasons, a different city may be allotted.

6. What is the question paper pattern for CMAT?

The CMAT exam has a total of 100 questions and the paper is divided in 5 sections with 20 MCQs in each section. 

7. How many colleges in Mumbai accept the CMAT score?

More than 100 MBA Colleges in Mumbai offer admission to their flagship MBA/PGDM programmes based on a valid CMAT exam score. 

8. Which MBA Colleges in Mumbai that accept the CMAT exam?

Top colleges in Mumbai accepting CMAT exam scores and offer admission are ICT, NMIMS, Mumbai University, VJTI and SPIT to name a few.

9. Which are the top CMAT-accepting PGDM colleges in Pune?

Top MBA colleges in Pune that accept CMAT scores are PUMBA Pune University, Balaji Institute of International Business (BIIB), ISBM, Balaji Institute of Modern Management (BIMM) and IIMS International Institute of Management Studies.

10. What will be the validity of the CMAT 2023 result?

The validity of CMAT 2023 scores shall only be for the current academic session i.e. 2023-24 for admission into the management programmes in AICTE-affiliated institutes. 

11. How many top MBA Colleges accept CMAT Scores in India?
Many prestigious MBA colleges that offer 2-year full-time management courses have good scores for CMAT. As per the All India Council for Technical Education (AICTE), more than 1000 MBA colleges in India accept CMAT scores for admission. However, the exact number of reputed MBA colleges that accept CMAT entrance exam scores may vary from year to year, depending on the preference of the colleges and the number of applicants who have taken the CMAT exam. It’s important for applicants to check the list of colleges accepting CMAT scores for the specific academic year and their respective cut-off scores before applying.

12. MBA colleges in Delhi accepting CMAT test scores? 

There are several B-schools accepting CMAT scores in Delhi. Some of the top MBA colleges in Delhi that accept CMAT scores are:

  1. Faculty of Management Studies (FMS), University of Delhi
  2. Lal Bahadur Shastri Institute of Management (LBSIM)
  3. Delhi School of Management (DSM), Delhi Technological University (DTU)
  4. Birla Institute of Management Technology (BIMTECH)
  5. Asia-Pacific Institute of Management (AIM)
  6. Jagannath International Management School (JIMS)
  7. Institute of Management Technology (IMT), Ghaziabad (Delhi-NCR)

For more details on how to use your CMAT scores to apply for the best MBA colleges in Mumbai or any other state in India, check out – 

Best ROI MBA colleges in India accepting CMAT Score | List of Top MBA Colleges Accepting 90+ CMAT Percentile | Top MBA Colleges in Mumbai Based on NIRF 2023

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