With a low GMAT score i am in a fix now.
My profile:
10 th: 86.4%
12 th:79.8%
Engg: 81.1%
GMAT:640

Exp: 4 yrs in one of the big 4 Indian IT companies(World reknowned in IT services).
Role:For last 10 months I have been leading a team of 4 people.i had made a proposal to the clients which was accepted by them. Awarded by the company as one of the emerging leaders and bringing in additional revenue for my proposal.Presently more into Project Management activities along with technical support.
Also I am a RISK co-ordinator for a group of 100 people from a single domain.So I take care of audits and other risk activities on a daily basis.

Extra Curricular: Had been part of Indian National Congress(Political party) from 2003-2005.
Have been working with CRY(Child Rights and You) NGO for last 1.5 years in some critical projects in Chennai specially for the Tsunami victims.

Additional thing: I along with another friend Had started a software company(registered) providing softwares to small companies within Chennai according to their needs.We ran it for 1.5 years before closing it due to financial problems.
I have evn got soe certificates for debate and oratorial skills which may offset my low verbal score.

I want to know which colleges will be suitable for me?
I am eager to apply in Emory and Mays .With this score is it feasible?
Also I do have financial constraints.
Please guide me!!!
Appreciate your help.

Your don't fit Emory, and Mays is a highly competitive school. because of its low fees it gets a huge number of applicants.

Take a look towards the bottom of Tier 4 on this post:
http://www.find-mba.com/board/27082

I tend to agree with Duncan. You are vying for spots with many other applicants with very similar profiles to you, and who have higher GMAT scores. Any chance you could re-take it, and get your score up to 700ish?

Otherwise, you'd have to aim a bit lower. Are you looking solely at US schools? If so, maybe look into the following MBA programs:

Temple - Fox
University of Miami
Georgia - Terry
SMU - Cox
Syracuse