Hi guruvigneshV,
The level of competition to get into Top-ranked Business Schools is quite high, so your lack of Work Experience over the last 2 years would likely be a 'red flag' at certain Programs. You're ultimately asking Admissions questions, so you would likely find it beneficial to speak with an Admissions Expert about your overall profile. There's a Forum full of them here:
ask-admission-consultants-124/After you've taken the XAT, If you'd like to know how you'd perform on the GMAT, then you can take a FULL-LENGTH practice CAT Test - you can download 2 for free from
www.mba.com (and they come with some additional practice materials). A FULL CAT takes about 4 hours to complete, so make sure that you've set aside enough time to take it in one sitting.
GMAT assassins aren't born, they're made,
Rich