Is FMS better than XLRI?

I would strongly assert that FMS is way ahead of XLRI. I have mentioned a few strong points that support my opinion. Before I begin, let me enlighten you on the fact that this answer is based on thorough research and reviews of graduates of respective B Schools.

Fees

• The major USP of FMS is its average fees with the best placements. FMS has an overall fee of around INR 2 lakhs for MBA and gives tough competition to the fees of XLRI which stands at INR 23.60 lakhs. 
• Anyone with common sense would prefer 2 lakhs over 23 Lakhs especially when the ROI is equally good or even better. You can live a stress-free life after your MBA with no burden or repaying a heavy loan.

Industry Acceptance

• Let me clear the very common misconception that IIMs tags are preferred over anything by most companies. Well, FMS graduates have an equal demand and are in no way lower than an IIM graduates.
• XLRI is the best choice when it comes to MBA-HRM. Most companies that offer HR roles prefer XLRI graduates even over IIMs.

Placements

• FMS has made its high ROI known all over the world. It constantly hosts 100% placements. It has distinguished its identity as one of the highest ROI-producing B-schools globally. FMS Delhi's highest package stood at INR 1.23 CPA whereas the average package stood at INR 34.1 LPA and the median package stood at INR 31 LPA. 97% of offers were made above INR 20 LPA. A total of 27% of students were placed in the Consulting Sector and there was a 19% Increase in the number of students placed in the BFSI Sector compared to the last year.
• XLRI placement scenario is outstanding. In its recent placement drive, XLRI recorded 100% Placement with the highest offer at INR 1.1 Crore. It offers a high ROI where the average placement package stands above INR. 24 LPA, while the general cost for its PGDM program is around INR. 11 LPA.

While both excel in placements, it’s the extremely low fees at FMS that make the ROI amazing.

Overall I would say that FMS is a clear winner when compared to XLRI

There is no clear winner between FMS and XLRI. Both of these are tier 1 management institutes. 

• Placements at XLRI and FMS are almost the same. According to the highlights of the recent placement drives at these institutes, the average CTC offered at FMS and XLRI are INR 32.4 LPA and INR 30 LPA, respectively.
• The course fee is a lot lower for FMS. For this academic year, FMS Delhi fees for MBA are INR 1.92 lakhs. While XLRI charges INR 25.80 Lakhs for their PGDM. So, FMS offers better ROI. 
• XLRI has the best HRM program in the Asia Pac region. If you are interested in a career in HR, XLRI should be your first choice. If you want a career in Marketing, FMS will offer you better options due to its locational advantages. 

You can’t go wrong with either of these institutes. So, based on your choice of specialization.