Sir Is Part time PGDM - For Working executives by IFMR chennai, considered as a Master degree? I wnt to do Phd in future

Sir Is Part time PGDM - For Working executives by IFMR chennai, considered as a Master degree? I wnt to do Phd in future and one of the key eligibility criteria for PHD is to have a Master degree. is the 3 year PGDM (approved by aicte)by IFMR considered a Master degree