N. L. Dalmia Institute of Management Studies and Research, Mumbai

Overview

N. L. Dalmia Institute of Management Studies and Research, Mumbai, is one of the best Business Schools in Maharashtra. Established in 1995, it currently offers four programs: three PGDM courses (General Management, Finance, and Business analytics), and one Global MBA program. All the courses are taught over six trimesters, except for the Global MBA program, where the second year is spent abroad, in the University of Wisconsin, Parkside campus. 

The graduating batch of NL Dalmia is among the largest in Mumbai, with more than 300 students. 300+ blue chip recruiters took part in the 2023 placement process, including Morgan Stanley, KPMG, Kotak Mahindra Bank, Tata International, Zomato, and ICICI Bank Home Loans. The highest package offered was INR 25.5 LPA in the 2023 placement season, and the top 50% of all placed students received an average CTC of INR 11.08 LPA. A strong summer internship program lays the foundation for long term placement success, with three-fourths of students taking up industrial training in the Banking and Financial Services Sector. The Placement Cell of NL Dalmia works to train students in the soft skills and domain expertise required for placement interview success, and sets up pre-placement talks and interactive sessions with company representatives.

As one of the top MBA colleges in India, N. L. Dalmia Institute of Management Studies and Research has multiple student-run events and competitions, including Mulyankan (Finance), Madhyaam (Marketing), Utkarsh (Human Resources), Sports Leagues, and the annual Alumni Meet.

Highlights

Fees

All three PGDM programs offered by N. L. Dalmia Institute of Management Studies and Research, Mumbai, have similar tuition fees of INR 8.1 LPA, or INR 16.2 Lakh for the entire course. The Global MBA program is significantly more expensive, with the second year's fees being adjusted to the US scale of MBA tuition costs.

The hostel rates for regular and premium housing are as follows:

• Regular hostel (non AC single room): INR 1.05 LPA. This amount does not include electricity charges, which must be paid separately. In addition, annual maintenance charges of 4,800 must be paid. There is also a refundable security deposit of 25,200, which will be paid back in full if the student causes no harm to the hostel property.
• Regular hostel (AC single room): INR 2.1 LPA.
• Regular hostel (AC twin sharing): INR 1.08 LPA.
• Premium hostel (AC twin sharing); INR 1.32 LPA. The maintenance charges for the premium hostel are INR 6,000, and the refundable security deposit is INR 44,000.

Other living costs (e.g. gas connections, food charges, shopping for personal items) must be borne by the individual students.

Admissions

The eligibility criteria for admission to N. L. Dalmia Institute of Management Studies and Research, Mumbai, are as follows:

• The applicant must hold an undergraduate degree of minimum three years' duration from any recognized University. 
• The candidate must have an aggregate above 50% during his/her Bachelor's degree.
• The applicant must have a valid scorecard from any of these seven MBA aptitude tests: CAT, XAT, Maharashtra CET, CMAT, ATMA, MAT, or GMAT.
• The criteria for admission to the Global MBA program are similar to those for the PGDM programs, but a minimum aggregate of 55% is required.

The steps in the admission and application procedure include:

• Registering on the online NL Dalmia application portal with updated contact details.
• Filling up the online application form with accurate personal and academic history information.
• Uploading the required documents (identity proofs, UG academic transcripts, MBA entrance test scorecards).
• Paying the online application fee.
• After all applications are submitted, N. L. Dalmia Institute of Management Studies and Research will release a list of students who are shortlisted for the final selection rounds.
• The final Personal Interview and GD round is conducted to gauge the student's presence, communication ability, and soft skills. Students can select a convenient date for the in-person round out of a range of choices available.
• The final merit list is prepared based on the PI round performance, the entrance test percentile, and the academic record. Students who receive an offer of admission must pay the first installment of the tuition fees to confirm acceptance.

Placements

As one of the top MBA colleges in India, the placement highlights  of N. L. Dalmia Institute of Management Studies and Research, Mumbai, are as follows: 

• The highest package offered during the most recent placement season was INR 25.5 LPA.
• The average CTC offered to various categories of students by highest package was:
  • Top 10% of students: INR 14.35 LPA.
  • Top 25%: INR 12.3 LPA.
  • Top 50%: INR 11.08 LPA.
  • Top 75%: INR 10.28 LPA.
• 46 new recruiters participated in the placement process, and a total of 300 offers were made.
• The total number of recruiters exceeded 300, and prominent companies included Morgan Stanley, Bloomberg, CRISIL, PwC, Kotak Mahindra Bank, Yes Bank, KPMG, ICICI Bank Home Loans, Rustomjee, Zomato, Anand Rathi Private Wealth, Rebel Foods, Prabhudas Lilladher, Capital First, The Hindu, Nomura, Tata International, Nielsen IQ, and Hansa Research.
• There has been a recent upward trend in CTC offered, with the 2023 placement season seeing a 11% increase y-o-y in average package offered and at 48.25% increase in highest CTC.
• The summer internship records are equally impressive, with the same high profile recruiters. 72% of students choose summer internships in the Banking and Financial Services sector, 9% in Investment Services, and 7% in the Rating Services (e.g. CRISIL) sector.

Cut-Offs

All three PGDM programs offered by N. L. Dalmia Institute of Management Studies and Research, Mumbai, have the same academic cut-off: an aggregate of 50% over all semesters of undergraduate studies. Applicants to the Global MBA program must have a corresponding aggregate of 55%. There are no predetermined cut-offs based on the entrance test marks; admission is decided based on a composite index of the interview performance, entrance test score, and academic history.

Faculty & Alumni

N. L. Dalmia Institute of Management Studies and Research, Mumbai, is home to 25 highly qualified Faculty members. Most hold both PhD and MBA degrees, and multiple Professors are alumni of the IITs, IIMs, and prestigious Business Schools abroad. The Faculty members ensure the industrial readiness of all PGDM students by adding practical components to the curriculum and improving their confidence in solving cases and having business discussions within a larger group.

The Alumni Association of N. L. Dalmia Institute of Management Studies and Research, Mumbai, organizes a series of Virtual Alumni Meets throughout the year, in addition to the main summit at the Institute's campus. Of the 7,700 alumni of NL Dalmia, more than 400 are working in senior positions abroad, primarily in the US, UK, and Middle East, with more than 4,300 established in management positions in India. Distinguished alumni of the Institute maintain close connections with the Faculty members and student body, with workshops organized regularly, in addition to the Anubhav project, which captures the real life professional experiences of the alumni to help data driven decision making by the graduating batch during the placement season.

Scholarships

As in other top MBA colleges in India, there are multiple financial aid options available to students of N. L. Dalmia Institute of Management Studies and Research, Mumbai. There are two main types of scholarships based on academic merit:

1. First Year Merit Scholarship: Only the top ten students in the final offer list are eligible. Within these ten students, a further set of conditions is applicable:

• 75% tuition fee reduction: CAT/XAT percentile above 98, CMAT percentile above 99, or MHT CET percentile above 99.5.
• 50% tuition fee reduction: CAT/XAT percentile between 95 and 98, CMAT percentile between 97 and 99, or MHT CET percentile between 98 and 99.5.
• 25% tuition fee reduction: CAT/XAT percentile between 92 and 95, CMAT percentile between 96 and 97, or MHT CET percentile between 97 and 98.

2. Second Year Merit Scholarship: Only students with a CGPA above 9.8 are considered. The top 10 candidates by first year CGPA across both PGDM courses are given a tuition fee scholarship of 25%.

Students of NL Dalmia who do not qualify for either scholarship above are free to apply to external organizations for scholarships and loans. Global MBA students can avail scholarships up to USD 6,000 to fund their two semesters abroad.

Preparation & FAQs

Applicants to the PGDM and MBA programs at NL Dalmia may submit any one of seven Aptitude Test scores: CAT, XAT, CMAT, ATMA, MAT, GMAT, and Maharashtra CET. Each of these requires careful preparation through a full time classroom coaching program or a virtual online course. Depending on the exam chosen, students should also attempt at least 10 mock tests in online or offline mode before the date of the test.

Frequently Asked Questions (FAQs)

Q. Which is the best Business School in Mumbai?

N. L. Dalmia Institute of Management Studies and Research, Mumbai, is one of the best MBA colleges in India, and is a contender for best Business School in Mumbai. It is ranked #15 among all Private Business Schools in India, according to the IIRF 2024 ranking list.

Q. Which institution awards the degree to students of the Global MBA program at NL Dalmia?

Students of the Global MBA program are awarded their international MBA degrees (after the successful completion of their second year) by the University of Wisconsin, USA.

Q. Which specializations are offered in the second year of the Global MBA program at NL Dalmia?

During the second year of the Global MBA program, which is spent in the University of Wisconsin, students can choose from among 8 specializations: Finance, Marketing, Human Resources Management, Data Analytics, Global Supply Chain Management, Accounts, Project Management, and General Management.

Q. Do students of the Global MBA program at NL Dalmia have to appear for the GMAT before joining the second year at the University of Wisconsin?

The advantage of the Global MBA program at NL Dalmia is that students need not appear for the GMAT, GRE, or TOEFL, and they are still eligible for the second year of study abroad, provided that their academic performance in the first year exceeds the minimum threshold of 2.75 out of 4 CGPA (US equivalent).