India, Oct. 5 -- The lakeside campus of the Indian Institute of Management (IIM), Mumbai is getting a makeover as part of a rebranding exercise after the institute received IIM status three years ago.

The Rs.1,907-crore revamp plan, which covers the 26-hectare campus on the fringes of Powai lake, will allow the institute to expand, upgrade its courses and, most importantly, improve its ranking among educational institutions in the country. IIM-Mumbai is currently ranked sixth among management institutes, according to the National Institute of Ranking Infrastructure (NIRF) under the Union Education Ministry.

Sources aware of the revamp plans say approvals for the campus makeover have largely come through. It is awaiting clearance from th...