Like many top B-schools, Welingkar looks more closely at the overall quality of a profile rather than embracing the brass tacks nature of accepting students only through exam cutoff. I've seen students with 91%ile CMAT score being rejected and 77%ile students getting called up.
I'd advise a score of anywhere between 85-90 being a safe zone. To get admission to Welingkar, try to present a more wholesome picture of your profile. That is much more important.