Alkesh Dinesh Mody Institute for Financial and Management Studies, University of Mumbai

From my sources and information, if you want a good quality education at a lower cost I would suggest you to go for ADMI. If you go to the ground reality of MITSOM, MITSOB, Balaji and Indira their fee is high. Infrastructure is good in these colleges but, 100% placement is not guaranteed in any of these colleges except for Indira with some costs.
The faculty is excellent in ADMI gives good attention to almost all students to clear doubts or other educational additional student wants to go for. If you are getting PUMBA nothing like that.
But when it comes to final campus placements, ADMI is competing with these colleges and getting the same job.
But as your hometown is Pune, expenses in Mumbai will add up an extra cost of around Rs. 2-3 lakhs for 2 years.
If you manage to get campus hostel for accommodation it will be definitely less than Rs. 2 lakhs for 2 years. (Assuming general expenses)

You will get MMS degree from Mumbai University. Whether it is the right place for you or not, depends on your score, and which other colleges are you getting admission in. If you were getting in top 4 colleges like JBIMS, Sydenham, K.J or Welingkar then definitely those are better places than ADMI. But if you dont want to repeat the CET or you want to pursue MMS this year itself, then ADMI isnt a bad choice either.
The placements here generally offer a average package of 4.5 L pa. The faculty is good and visiting faculties are a class apart. The advantage is you get to be on Mumbai University campus where you can attend many events and conferences organised by other departments like economics, statistics, languages and get a better exposure and networking opportunities. The disadvantages are being a government institute the infrastructure or the overall pace of getting things done is a little slow. So choose wisely.

ROI is very good as the fees are Rs.1,00,200/- every year. So total investment of Rs.2,00,500/- approx and it can be recovered in any job you get afterwards. But also consider the opportunity cost of working instead.
The placements are average for the college. General package offered is in the range of Rs.4.5 LPA. Studies part is great, the faculty and visiting faculty are excellent and there are many events in the University which opens opportunities for further learning and networking.
As for specialization to choose depends upon your interest and willingness to work in that field. All specializations have scope in future and progress in any specialization depends on your efforts. Also you will get more idea about which specialization after 1st semester of MMS where you attempt papers form all Marketing, Finance, HR or Operations.