First of all congrats Parag for scoring such a high percentile of 94.3 in MAH-CET exam!!

PUMBA is a pretty good college which runs 2-year full-time MBA program at a low fee of Rs. 1.33 lakh and according to last year placement record the average placement offered was Rs. 5.27 lakhs per annum and highest package offered was Rs. 8.4 lakhs per annum.

Some of the Companies / Recruiters who visited the campus are:

Abbot, ACC Limited, AVIVA, Axis Bank, Coca-Cola, Colgate, Cummins, eClerx, Ernst & Young, Fiserv, Glenmark Pharma, HDFC Bank, ICICI, Infosys, Kirloskar, Kotak Securities, LG Electronics, Marriott hotels, Novartis, ONGC, Pfizer, RBS (Royal Bank of Scotland), Religare SYNTEL, TCS

It's an overall good college with a good ROI so you can go for it but if you trust yourself and have confidence on yourself that with 1 more year preparation you can score even way more high not only in CET but also in the other exams like CAT, CMAT, MAT so that you can end up with much better college then you can think of retest which is risky but always a better option. 

So, it's totally your personal decision. PUMBA is no doubt a good college but do you believe yourself or not and do you want to get something better in your career then re-test.

Feel free to ask if you have any more queries. All the best!!

According your score the chances are decent to get admission in PUMBA. Here I am providing the MH CET Cutoff with the given below link.

MAH CET Cutoff

You can also check your other chances with MAH CET MBA College predictor tool.

MAH CET MBA College Predictor

Good Luck!