If you are trying to make an appearance in the corporate world, then stepping into a university with prospects as much as what Lucknow University has would not necessarily turn out good at the end of the day. 

There is a broader reason why:

• Choosing to pursue an intensive course like MBA might not be fruitful if you opt for a particularly obscure university.
• The professors of the university can be highly qualified and professional in what they have done until now. 
• Lucknow University has not quite sntached the attention, when placements are considered.
• The pedagogy of the faculty is undoubtedly exceptional, but the administration does not take responsibility for placement opportunities.

If you are particularly focusing on your academic credentials, besides your location tethered to Lucknow itself, then Lucknow University can be a good choice; but in no case otherwise. 

It is best that you reach out to several faculty members of the institute closely attached to Lucknow University, for better guidance regarding your course structure.