Best MBA Colleges in Maharashtra: Fees, Admission 2026, Courses, Salary, Ranking

The best of 850+ MBA colleges in Maharashtra are located across Mumbai, Pune, and Nagpur. Among the top 100 management category colleges in India, there are 9 top MBA colleges in Maharashtra in the NIRF rankings 2025. Mumbai's IIM Mumbai and IIT Bombay's Shailesh J. Mehta School of Management are the leading colleges for MBA in Mumbai. Pune has SIBM (Symbiosis Institute of Business Management) and Pune Institute of Business Management, and Nagpur has IIM Nagpur and IMT Nagpur in NIRF rankings.     

In this guide, you will be able to sort which Maharashtra colleges for MBA are best. Below, you can find MBA institutes in the state which take candidates through MAH MBA CET, MAT, ATMA, in addition to the CAT exam. You will also find some good government MBA colleges in Maharashtra, besides the two IIMs and one IIT, with relatively low fees and greater ROI. 

Best MBA Colleges in Maharashtra: Highlights

The top colleges for MBA in Maharashtra are largely in Mumbai, Pune, and Nagpur when you refer to ranking surveys. Aurangabad (now renamed as Chhatrapati Sambhajinagar), Nashik, Amravati, Raigad, and Kolhapur also have good management colleges for MBA in Maharashtra with low tuition fees. The choices in the state are quite good to meet all types of budgets and career goals. See below. 

Top MBA Colleges in Maharashtra: NIRF 2025 

NIRF ranks MBA colleges in India annually. You can refer to the last officially updated rankings for the 13 top MBA colleges in Maharashtra below. We list two tiers (1-100 and 101-125) here. Most of the top B schools in the state (in the 1 -100 tier) are concentrated in Mumbai. But in the 101-125 tier of NIRF 2025,  the best of Maharashtra's MBA colleges are outside Mumbai. All of them are located in Pune. Going by this ranking list alone, after Mumbai, Pune can be the next best option for an MBA in Maharashtra. Also, in this list, only the IIMs in Mumbai and Nagpur, along with IIT Bombay and NIBM Pune, are government-owned; the rest, like IMED (Bharati Vidyapeeth's Institute of Management and Entrepreneurship Development), Pune Institute of Business Management, and Sri Balaji University, are all private.   

Source: Official NIRF report: India Rankings 2025: Management. For 2026, it is yet to be published by NIRF.

Eligibility for Best Colleges for MBA in Maharashtra

For MBA colleges in Mumbai and Greater Mumbai, Pune, Nagpur, and all other parts of Maharashtra, these are the basic eligibility conditions for MBA. 

• At least 50% in graduation from any stream, and from any recognised university.
• Valid scores in CAT, MAH MBA CET, or similar.

For MBA admissions at Maharashtra colleges, there are personal interviews, profile selections, and counselling processes, after cutoff announcements are made.   

Entrance Exam Schedules for MBA in Maharashtra in 2026

The best MBA colleges in Maharashtra take in several exams simultaneously. It's known that the IIMs have high entry cutoffs and take in candidates only from the CAT exam. Also, valid scores from CAT can matter in some other government and private colleges in the state for scholarships and entry, but ideally, you should sit for the MAH CET exam to pursue an MBA programme at the different top-ranking colleges in the state.   

Note: All info. is from official sites and can change. 

10 Best Private MBA Colleges in Maharashtra

Maharashtra has many top-tier private B schools with flexible fee ranges, domestic and international industry tie-ups, prestigious accreditations that are valued in the West and the rest of the world, and most importantly, the specialisations that the job market around the world is currently demanding to fill the growing skill gaps.  

Note: All info. is from the official sources and can change. 

ROI of Best MBA Colleges in Maharashtra 

Analysing the returns for MBA colleges in Maharashtra is one major deciding factor when choosing the best. The median packages for some of the private MBA colleges, like NMIMS, SPJIMR, or Symbiosis, in the state are also higher than government-run institutions but they also come with premium fees. Similarly, you also must factor in the fact that if NIRF ranks a college above another, it necessarily does not mean the higher ranking institute has better placements. There are several other business schools that are not listed in ranking surveys, but their fee-to-salary ratios are much better than ranked ones. Having that said, the table below lists a few business schools across the state with high returns.    

Note: All info. is from official sites and can change. 

MBA Colleges in Maharashtra with Low Fees

Maharashtra hosts 25+ private MBA colleges with low fees. See table below. 

Note: All info, is from official sites and can change. 

7 Best Government MBA Colleges in Maharashtra

The state universities in Mumbai and Pune offer several low-fee MBA programmes through affiliated colleges, but the central government-owned IIMs in both Nagpur and Mumbai, and IIT Bombay's SJMSOM are not exactly cheap. These three National Institutes of Importance are among the best ROI MBA colleges in Maharashtra. Other than these, however, affiliated colleges under Pune’s SPPU and Kolhapur’s Shivaji University are quite affordable, while placements are moderately decent in terms of locations and job availability. Because of these reasons, too, you can consider that some of the non-IIMs are the best government MBA colleges in Maharashtra with a good fee-to-salary ratio.   

Note: All info. is from the official sources and can change. 

Top Cities for MBA in Maharashtra

By now, you must have an idea that Mumbai and Pune are great options for an MBA in Maharashtra. These two cities have the largest number of ranked management colleges, which you can also refer to in our guide to top MBA colleges in Pune. Besides these two cities, you can check Nagpur and Kolhapur, which primarily house more affiliating government universities with smaller multidisciplinary and private colleges.

For city-wise breakup of the best MBA colleges in Maharashtra, especially for the ones that are noteworthy for their placement transparency and decent fee-to-salary ratio, refer to this table. 

Compare the Best MBA Colleges in Maharashtra 

If you want to do a head-to-head comparison of the best MBA colleges in Maharashtra, follow these links. 

• Compare SIBM Pune with other institutes in Pune and the state
• Compare K J Somaiya with Mumbai's top MBA colleges and nearby cities
• BAMU Aurangabad comparison with nearby cities and districts in Maharashtra that host the best MBA colleges