One of my cousins graduated from Loyola. His experience at Loyola Institute of Business Administration (LIBA) is quite good. First of all, I will have to answer based on my current interactions with the faculty and some of the students.

• My friend has been fairly active concerning the alumni meetings and has met most of the professors and quite a few students.
• There is one marked difference between the time my friend studied there and now, that is the significant improvement in the facilities.
• There is a proper hostel, the entire campus is wi-fi enabled and the auditorium and other facilities are pretty much as good as it gets. 
• The classes are like any other college. 
• There is a mix of full-time and guest faculty; they also do not follow any particular schedule when it comes to guest speakers.
• Try not to compare it to an IIM. Though the standards are definitely above average and better.
• There is still a vibe of a laid-back environment here when comparing them to a B school like XLRI.

Apart from software companies picking up people for their consulting teams - Cognizant, etc. The industry presence in Chennai is not the same as in Mumbai. Overall, it could be one of the good options among other average-performing colleges.