Hi Tapas,
Thank you for your post. Admissions committees will truly look at your application holistically, so while the GMAT is very important, it is still only one factor. To really be able to analyze your profile, I would need to learn more about the three buckets they analyze – stats (GPA/GMAT), work experience, and extracurriculars. Also, your personal and professional stories which will come across in your essays and short answers are very important in determining your fit with the school.
All of that being said, if your GMAT studying is fresh in your mind (and it has not been too long since you took it), and your practice scores give you confidence that you can significantly improve your GMAT score, then I think retaking the GMAT is definitely worth considering. You listed very competitive schools, and an improved score will certainly improve your chances.
I hope that helps. Feel free to sign up for a free consultation where I can see your resume and more specifically review your profile:
https://www.mbamission.com/consult Good luck!