To begin with, let me tell you that XIMB offers MBA-BM whereas XAHR offers MBA-HRM. XAHR or Xaviers School of Human Resource Management was started after the immense success of the HRM program of XIMB.

Now coming to your question, the program you choose will be an important factor in shaping your career so it should be based on your inclinations. Get a clear idea of the various arenas and specializations of Management and the required skills. Both the courses deal with very important elements of Management but HRM specifically deals with the primary asset of any company, The employees.

BM offers an MBA in various fields like

• Finance
• Sales and Marketing
• Operations
• Consulting 
• General Management

Each of these specializations have its own pros and cons. For instance, if you are into number crunching, operation management, and market mapping, then BM is a good choice for you. You can get further details of the course on the official website. Analyze what course and why attracts you the most and make an informed decision. So only you can decide which course to take as this is a subjective question based solely on your personal preference.

If you have a closer look, there is no major difference between the 3 B Schools. So I have made it easier by judging them on the basis of 2 parameters only.

Admissions: Most competent students get a call from 2 of these 3 institutes as all the 3 to have similar requisites 

Placements: The placements are also at a similar level. The profiles and packages offered are similar in all the 3 B Schools except that IMT is a little behind owing to its huge batch size.

So I would say the order would be as this- XIMB >=IMI>IMT

The table below will give you a better picture of the comparison between the 3 colleges 

IRMA seems to have it all - top faculty, great infrastructure, excellent campus, and extensive exposure. It is well known for its specialization in Rural Management and becomes the best choice when it comes to RM aspirants. Before I go on, let me clarify a much common misconception about the Rural Management and Development Sector. The assumptions that the pay in the Development sector is extremely low and IRMA provides no corporate exposure are outright false. 

I know a friend who gave up a scholarship at another B School for Rural Management at IRMA. He made this decision despite knowing it will be more hectic because of the 3 field components unlike 1 in the case of other B Schools. 

There is an additional social sector course like Rural Society and Polity for instance. The main purpose of these courses is to broaden your tour horizon as IRMA serves the majority of the Indian population living in villages, who have a different set of problems and require a different type of thinking to solve them.

IRMA has 2 camps - pro-market and pro-development that respect each other. Such harmony leads to a better understanding of both pros and cons, and students can initiate a response to an emerging economy.

This field required an emphatic and sensitive attitude with monetary benefits not being the primary goal. The earning capacity is not exactly poor and the placement figures reveal 100% opportunities. Additionally, IRMA’s Social Entrepreneurship Cell is a haven for future entrepreneurs.

IRMA boasts of a rich alumni culture because they take pride in being an IRMAn which was possible after multiple efforts and hard work. The alumni connection ensures constant motivation and advice shared based on real-life experiences.

Overall IRMA offers a roller coaster of experiences you won’t forget in your entire life.

The main purpose of pursuing an MBA is to elevate your current profile and render you better career opportunities. Doing an MBA just for your resume or because everyone is doing it is not justifiable. And honestly, neither of the two colleges you mentioned has the potential to enhance your employability skills. So I would right away say that both these are not good options. 

The reason why IIM Sambalpur is not worth it is mainly because being a new IIM, its tag has little or no brand value. Its overall worth is also very less in comparison to other IIMs. Most importantly, if you were able to get into a new IIM, chances are you can even get into an older, better one with a tad bit more effort and determination. So you can try again next year and join a better one.

The reason why XIMB is not worth it is because of ROI. The high fees compared to mediocre packages that are offered make no sense. You can get similar packages at a tier 2 college with much fewer fees.

Still, if you are under pressure to choose one, definitely go for IIM Sambalpur. The IIM tag might come in handy someday in our country whose corporates still value the tag more than the potential.