The general goal towards which this study is directed has, therefore, been to revisit the performance ranking processes of Higher Educational Institutions. National Institutional Ranking Framework (NIRF) is used as the case ranking body. The performance indicators used in NIRF are utilized in developing the various models of performance measurement by means of correlation and regression analysis. These models are applied in assessing the relative efficiency of the Higher Engineering Institutions (HEIs) employing Data Envelopment Analysis (DEA). Thus, there is what one could consider to be an unavoidable outcome – it becomes clear that it is impossible to rank the performance of all the institutions based on a single set of criteria. These institutions may be grouped into various compartments depending on their performance potentiality, their specialties, limitations, areas of operation, resources available, etc. There should be a different model of performance evaluation for each of them. It is required that the various inputs and output variables should be endowed with the weights that are optimal using DEA. Secondly, the input variables should have effects on the outputs and should be related to the context of the analysis. This study might be useful to the policymakers and the performance ranking organisation in defining the indicators of performance, and identifying the performance being mindful of the real scenario of the education institutions. The enhanced ranking system is preferable because it has clear outputs which gives the ability to make proper decisions regarding HEIs to users. The effectiveness of this system is in the fact that with readily understandable specific information, it facilitates the comparison of HEIs. It also enables them to select that institution that offers an education that befits their dreams of the future.