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Hi Mayank, for some courses GRE is mandatory. and for some other if you have a GRE score you have edge over other applicants and have a better chance of getting admission.
There are 2 intakes in a yearSep/Oct and MArch/April. The application and admission process takes about 9 months so youneed to plan accordingly. Thedeadline for Sep/Oct intake is in Jan and for March /Aprilintake is in July. Hence, youwill need to make an early application.
Once the University receives your application they may takeabout 3-4 months to inform youof the decision. Not all Univmay intimate you if your application is incomplete, hence it is your duty to ensure thatyou send all the requested documents in one go to avoid anylast minute issues.
If you do not want to apply directly or are apprehensive youtake help from UNI ASSIST. they charge Euro 55 for their service of applying to 2-3 univ.And additional Euro 15 per univ.
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Last date of Online Registration 30th April 2011
Date of NMAT (C)15th May 2011
Eligibility Criteria :
The candidate must have passed 10+2 or equivalent exam including international IB Diploma in any stream from a recognized Board at first attempt and should have obtained a minimum of 50% aggregate marks for B.Com (Hons) program & 60% aggregate marks with passing in mathematics as compulsory subject for BBA Program Only.
Candidates who have not cleared the 10+2 or equivalent exam in the first attempt are NOT eligible to apply for the admission to the courses. Further, those candidates who have passed the 10+2 exam by doing a part-time course or through distance learning/correspondence/ externally/open school are not eligible to apply for the courses.
Candidates appearing for their final 10+2 or equivalent examination can also apply but their admission to the courses will be subject to criterion 3.1 above, obtaining the required minimum cut off marks and also producing all the necessary documents, in original, within the given stipulated time.
Those candidates who have passed, or, are appearing for 10+2 or equivalent examination from a Board/University where Grade Point Average is given, such candidates must produce in writing

Hi,
The AIR and State ranks are very low to suggest any good, reputed institute but then you need not loose hope as there are private institutes as well, where in you can pursue the particular course like Amity, but as you are looking for institutes in Hyderabad, you may look in for a provisions for admission in institutes like Mahaveer Inst. of Science & Technology, M.J. college of Engg. College & Technology, Chaitanya Bharathi Institute of Technology and a few others.
You can try to inquire about the eligibility for these and the other institutes in the preferred location.
Link to refer:
https://science.shiksha.com/getCategoryPage/colleges/science/india/702/All/Hyderabad/categorypages/All/All/All/0/30
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All the Best!