People choose FMS over IIM Indore for reasons other than ROI. They choose FMS over IIM Indore for better placements. It has a 50-year alumni network. and is situated in the heart of Delhi.
It takes a lot of persuasions to convince a company to come to Indore. After the first few days, the majority of interviews are conducted over the phone or via Skype, implying that companies make no investment of time or money in hiring Indore students. As a result, there are very few offers from telephone rounds. In comparison, any company from Gurgaon can take a day off to visit the renowned FMS and entice a few geniuses.
There are few alumni in top executive positions making hiring decisions. A smaller batch also means less competition and a better chance of landing prestigious jobs. The ROI factor comes into play when comparing FMS to IIM Lucknow, which is a difficult choice, but there isn't much of a choice between IIM Indore and FMS.
You should choose FMS Delhi over any other institute. It offers the best ROI and has a smaller batch size compared to IIM Indore. Check some important points before taking any decision:
IIM Indore placements may have 1-2 extra names in consulting/ finance, etc but they do not have companies who recruit in bulk. If you think that the IIM tag is still significant then know that it's not.
The campus location near Indore, Kozhikode, Bangalore, Rohtak matters a lot more to recruiters. The campus life and hostel aren't bad either. Delhi as a city will also bring in more exposure through socio-cultural events, networking, and live project opportunities.