Hi sharbh,
To start, I'd like to clarify what you wrote - did you recently take a practice CAT or the Official GMAT?
You're clearly a strong Quant thinker, but before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on your goals:
1) When are you planning to apply to Business School?
2) What Schools are you planning to apply to?
3) Going forward, how many hours do you think you can consistently study each week?
GMAT assassins aren't born, they're made,
Rich