A nation advances when its citizens are engaged, resourceful, and responsible. Higher education contributes significantly to the creation of such citizens. Higher education is crucial for a nation's overall prosperity since it creates knowledgeable workers with specialized abilities. India is seeing an increase in postgraduate management programs, which has raised questions about the country's business schools and management colleges' ability to retain their level of excellence. Several factors affect the overall quality of higher education and help in gaining academic excellence. Analysis of the numerous aspects that go into achieving academic excellence and an understanding of its effects on students' performance at higher education institutions in Mumbai is the study's main objectives. This study also examines the students’ perceptions of academic excellence and its impact on their learning process. From Mumbaibased B-schools, 350 students have been selected. In this study, a random sample technique is used. Surveys were conducted to collect data. Pearson's correlation coefficient test and descriptive statistics were used to determine the study's conclusion. The research study found that there is a strong impact of academic excellence on students’ performance.