Hi Uj,

scoring 86 percentile is a decent score in CMAT.

you can expect a call from Goa Institute of Management  (GIM), Welingkar, IBS Mumbai and many more.

These are the top 3 colleges which comes under your ranking.

you can apply to all these colleges.

wish you good luck.

Hi Uj, the cutoff varies every year based on various factors like number of seats available number of test takers difficulty level of exams etc. However going by the past records, some of the colleges you can try for are, 

1) Prin. LN Welingkar, Mumbai

2) PUMBA, Pune 

3) SIES, Mumbai 

4) NL Dalmiya, Mumbai 

5) IES Management College, Mumbai 

You can refer to our pathfinder tool to get more detailed college list, 

https://bschool.careers360.com/pathfinder/cmat