I have friends from IITs and most of them don't like or enjoy the fact that a private university competes with them in placements, especially the CS branch, and some students of the BITS do get better placements than some of the students at IITs.

But they also admit that had there been bad results in the JEE examinations and if they couldn’t get a seat in a good IIT then BITS Pilani or Hyderabad would have been their first choice for the good placements and the brand tag (also top NITs and top IITs).

So to conclude I will say that the students of IITs don't like to be compared with them because the IIT tag is at a different level but they don’t deny the fact that BITS is not far behind them.