Vaibhavgoyal:
Thank you for posting and sharing all of this information.
Q: Which other schools should I target?
A: Have you taken a look at Cranfield, ESMT Berlin and St. Galen? Those could potentially be in range.
Q: Any thoughts on whether my target schools are reasonable based on my profile?
A: Some of these are going to be challenging, especially Imperial. IE and IESE aren't out of reach but won't be easy by any means.
Q: Is my profile good enough to get decent scholarships in the school I am targeting?
A: A GMAT score of 660 is going to make things really difficult alone. Plus you're coming from a competitive demographic. I wouldn't count on decent scholarship from these schools. You might have to look to third parties to get the type of money you're targeting.
Q: What more I can do to strengthen my profile so that my chances of making to these and other prestigious schools increase?
A: Retake the exam. You have to bump up that verbal score significantly. I also don't know a ton about your family business. You just joined in July which is really soon to be applying to school. I would consider waiting a year to apply. That also gives you time to retake the exam.
FYI, it might be a good idea to be selective about where you post. It's readily apparent you have posted under every single forum including the general b-school application one.
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Admissionado