What is 27p indicate in cut off rank in iit

With this I can surely say that either you are an SC/ST or PwD candidate.

this p indicates preparatory corse. And you have got 27th rank among those preparatory students. This rank is given to those who fail to clear the subjective cut-off in JEE advanced paper but due to poor performance among their category they still hold a chance of getting a selection.

Hnece you can take part in JoSAA counseling and eleigible for getting selected in IIT's.

IMP Note - You can study for entire one year, then your performance would analyzed by the competent authority and if they find according to the standards, you will be a permanent student of that college.

All the best!