I have friends in all the 3 institutes so I happen to be the right person to answer your question 

A friend in NIT Trichy told me that the lectures are boring and the professors are incapable of delivering the concepts in a skillful manner. Most of them are hardly interested in teaching and offer no individual assistance. Only a few exceptional professors help you here. 

Meanwhile, my friends at BITS Pilani and IIT Bombay were all praised for their respective institutes. 

• These institutes offer better job opportunities and exposure in the form of scholarships and internships.
• The research culture at these institutes is yet another reason to prefer them over NIT Trichy.
• The crowd quality of these institutes cannot be compared to the crowd at NIT Trichy. IIT Bombay is the best IIT and attracts the highest JEE rankers while BITS Pilani with its no-reservation policy only accepts the cream crowd.
• These institutes provide a path for their students to inculcate and harness their talents. NIT Trichy fails to realize the potential of its students and only focuses on theoretical learning. 

So yes there is a huge difference in the quality of education and opportunities offered by the aforementioned institutes. However, in the long run, it’s your skills and talents that matter. 

Choosing a B-school can be a tricky decision especially when it comes to ROI. I understand that ROI is one of the most important factors when it comes to MBA courses since funding your education with loans come with its own set of challenges. But the institutes that you have mentioned above certainly surpass the challenges since they belong to the tier 1 category. 

You might come across articles and blogs stating that FMS or JBIMS do not provide a typical MBA environment but for me, that discussion does not even make sense. What is an MBA environment after all? You spent 2 years of your life at the campus and wish to land a good job. FMS, JBIMS, and IIT Bombay all three have good market reputations, they home the best candidates and charge minimal fees. So, if ROI is even a little bit of a concern for you, go for these colleges without any second thought or regret. 

When considering which business school to attend, it can be helpful to think about the impact that the institute will have on your resume. On the one hand, SJMSOM is an older institute that is well-known for its engineering program at IIT. While it may have a strong reputation in certain fields, it may not be as well-known for its MBA program. On the other hand, the newer IIMs, including IIM Ranchi, have not yet fully established their reputations in the business world. While they may have the prestige of being part of the IIM network, they may not yet have the same level of recognition as older institutes. 

Ultimately, the value of an MBA degree will depend on what you make of it and the effort you put into your studies and career development. It is important to carefully consider both the reputation and the resources of the business school you choose in order to make the most of your MBA experience.

IIT B is particularly known for its specialization in Operations. Although it has a decent specialization in other domains like Marketing and IT as well, it is for Operations that people usually choose it. Some consider IIM Shillong or Trichy a better option for Finance. But I personally think that SJMSom IIT B is overall a better choice.

I cannot choose one between IIM Trichy and Shillong as both are at an equal level at this point. Despite being new, Trichy has managed to be in the league of Shillong. It has been growing at a fast pace and may even surpass IIM Shillong in the near future.

So if I am to rank the above options it has to be

SJMSom>IIM Shillong=IIM Trichy 

SJMSOM at IIT B was founded in 1995, making it a relatively newer institution. But for a couple of years now, it has been making headlines because of some really outstanding profiles that were provided. Its core competencies are operations and supply chain management. There is no doubt that IIT B is the best choice if you want to work as a product manager. IIT B also has a beautiful campus with excellent facilities.

Additionally, it would give you the opportunity to take part in MOOD-I, the most significant cultural festival in all of Asia, which is held at IIT Bombay. With the well-known tech fests, there is another opportunity for you to participate. Furthermore, there are benefits to living in Mumbai. For guest lectures, the majority of the industry experts live nearby and are easily reachable. 

IIM Lucknow was founded in 1984, so it has 11 batches more alumni than IIT B, resulting in approximately 3300 more alumni (considering 300 students per batch on average). It is also the fourth oldest IIM, following A, B, and C. You will gain a lot more industry experience, which will assist you in deciding what you truly want to do. In addition, IIM L offers better opportunities in Sales & Marketing, Consultancy, and BFSI than SJMSOM. Furthermore, you will be networking with a large number of students from all over the country and forming lifelong friendships. Furthermore, the IIM tag for a managerial position has an advantage over the IIT tag, which is still developing.

It would be fine if you went to IIM L, SJMSOM, or any other B school a few years later. When you switch from the first company you get after your placements, the new recruiters will be more interested in your work than in the college you attended. And the impact of your college's name gradually fades. What remains are the lessons you've learned and the memories you've made over the last two years. 

IIM Shillong is the better college among these. The institute puts emphasis on hands-on learning. You will learn how to handle real-time issues. The coursework and teaching go well beyond classroom learning. IIM Shillong has made great strides in recent years in terms of facilities and infrastructure. It has an impressive placement record. IIM Shillong placements in 2022 witnessed the highest CTC of INR 55.22 LPA. This year the major recruiters were Deloitte, DE Shaw, TATA Steel, etc.  

MDI will be a better option for all specializations, except Operations. If you are interested in Operations, IIT Bombay is much better. MDI Gurgaon placements are excellent. Big names such as Bill & Melinda Gates Foundation, and BCG have visited the campus placements. The 2022 placement drive had an average CTC of INR 26.65 LPA. 

MDI offers the best placement in the finance domain after IIM A, B, C, FMS, and XLRI. JP, HSBC, Nomura, Stanchart, etc. are some of the major recruiters from the finance sector. 

MDI placement records for Marketing are good as well. HUL, Coke, Pepsi, and P&G are some significant recruiters from the marketing sector. 

Among these colleges, IIFT Kolkata or MDI will be better for Finance. According to MDI Gurgaon placements 2022 record, BFSI, and E-Commerce sectors had placement rates of 22% and 13%. During 2021 placement drive, 55 students from MDI were placed in the Finance sector. The highest CTC offered in this sector was INR 21-23 LPA. 

You can also consider IIFT Kolkata. It offers similar opportunities as IIFT Delhi, in the Finance sector. During IIFT Kolkata Summer placements 2021, the top recruiting sector was BFSI.