Hi Dinesh, the cutoff varies every year based on various factors like number of seats available number of test takers difficulty level of exams and category of the candidate etc. However going with the previous years cutoff, the chances are very less to very slim chances, as they expect ranks to be around AIR 100+ cutoff, with gate scores above 650+. You can refer to this link below, for more detailed cutoff for various courses, 

https://engineering.careers360.com/articles/iiit-delhi-mtech-cutoff