Hello 

There are a lot of colleges that you can target with a percentile over 85. However the selection depends upon your GDPI and past profile basis.Some of these colleges are-

IMI New Delhi,IMT Ghaziabad,SPJain Mumbai,BIMTECH TAPMI, Manipal(Karnataka), Welingkar ,KJ Somiaya Mumbai, LIBA chennai, NIRMA University, Ahmedabad

Hi Aakil, The best B-schools are:

Shailesh J. Mehta School
Xavier's Labour Relations Institute, Jamshedpur
Lovely Professional University, Punjab
Department of Management Studies, IIT Delhi
Indian Institute of Foreign Trade, Delhi (own test)
Management Development Institute (MDI), Gurgaon
Bharathidasan Institute of Management (BIM), Trichy
Narsee Monjee Institute of Management Studies, Mumbai
National Institute of Industrial Engineering (NITIE), Mumbai.

According your score you have decent chance to get admission for New IIMs,  VGSoM, IIT Kharagpur, K J Somaiya Institute of Management Studies and Research, Mumbai, Goa Institute of Management etc. To check your other best possibilities you can go through with the given below link.

CAT Pathfinder tool

Good Luck!