Hey there good sir!
Thanks for dropping us a line. So let's get straight into it. First of all, I'd like to say that without a GMAt it's not really possible to give an evaluation of whether you can get in or not, but I CAN point out some good things perhaps. The first thing I see is that overall you have a very nice solid basis for application. Good school, good work, good experience. But that in of itself is not enough. Despite your work experience, there is something (that at least for the moment) feels a bit "plain vanilla" about your profile, and you need to work on that. You know how many Indian IT applicants (many working for banks) there are??? Don't know the exact number, but lots and lots... Don't let this scare you though. Many do get accepted! But to be accepted, and to be accepted to the best places, you need to stand out.
Now, very roughly, from what you have written here, the two things that make you stand out are your team leadership and training in your work experience. These things might set you apart from the crowd, as lots of people come in without this stuff. The key for you is FOCUS... right now is this (wonderfully) full profile evaluation, you have way too much info, and you haven't separated the wheat from the chaff. For OUR purposes it's wonderful, as more detail is better... buuuut for the schools you have to CHOOSE a lot more carefully, not just what to put in, but also what to leave out.
now, onto your questions:
1. Is my profile suitable/competitive for ISB? What should be the minimum GMAT score for ISB? Any special suggestions for ISB as I want to make it to ISB?
720 would be nice, although you can apply with lower... Special suggestions for ISB 1. Stand out 2. Have goals that make sense in terms of the school 3. Stand out not just professionally, through proof of success, but also personally
2. Is my profile suitable/ competitive for Priority 2 and Priority 3 colleges listed above?
Yep. If you land that GMAT!
3. Any other universities that you would recommend me?
There are sooooooo many great ones. We would need to discuss this further based on goals, locations preferences, prestige preferences, program preferences... etc. etc.
4. If I get an opportunity to change my work profile to Strategic Management in a start-up / boutique Strategic Management Consultancy firm prior to MBA, then how would the universities rate my work experience of "Software Quality Assurance + Strategic Management Consultancy" v/s "only Software Quality Assurance" considering my target program is Strategic Consultancy / Entrepreneurship ?
Strategic Management is MUCH stronger than IT QA. If you can get it, do so.
5. Any other valuable comments ?
Glad to help!