Hello,
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Every college has  there own reputation. So city doesn't play a role in deciding best college. Both the Hyderabad and Mumbai has best colleges and both the city Colleges provide a great scope for students
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Colleges in Hyderabad:

• Symbiosis
• Institute of public enterprise
• IBS business school
• GITAM Hyderabad
• Nizam college

https://bschool.careers360.com/colleges/list-of-mba-colleges-in-hyderabad

Colleges in  Mumbai:

• Amity university
• Symbiosis school
• SPJIMR
• Anil surendra Modi
• Guru Nanak Institute

https://bschool.careers360.com/colleges/list-of-mba-colleges-in-mumbai

Follow the link for more colleges and it's details

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