These are the Ivy League institutes of the country. They offer world class education and it will be a dream come true to study at any of these institutions. You will need to have 96+ %ile and consistent good academic record to have a realistic chance of getting into any of these institutes. Of course, they offer 100% placements with the best consulting, I-Banks, FMCGs, etc making a beeline to recruit from these institutes and many going back empty handed.
Whether the economy is booming or depressed, you can expect an average salary of 14-18 lacs from any of these institutes and a significant number of students would get foreign placements with obnoxious salaries in dollars, pounds and euros.
While the fee at most of these institutes is on the other side of 10 lacs, FMS and JBIMS stand out because of their RoI. While your MBA at FMS would cost you just Rs. 20,960/- and the average salary for the 2012 passing out batch was Rs. 16. 34 lacs, giving a whopping 78x RoI, JBIMS would cost around 2 lacs and average placement for the 2013 passing out batch was 15.32 lacs, giving a phenomenal RoI of 7.6x. But then, they might prove to be tougher nuts to crack that the IIMs and rightly so.
Admission for all these institutes except for JBIMS and XLRI is through CAT. For JBIMS, you will have to write Mah-CET and XAT for XLRI.