Top CMA Firms In Delhi For Your Articleship

CMA articleship, which the Institute of Cost Accountants of India (ICMAI) calls practical training, lasts 15 months for every student who registered for the Intermediate course on or after 11 February 2020, and it can start as soon as you register for Intermediate (CMA Prospectus 2025, Annexure VII). You can train under a practising cost accountant (PCMA), a firm of cost accountants or a recognised organisation such as a government body, bank, public sector undertaking or company. The full rules on duration, leave, forms and exemption are in our guide to CMA articleship duration and stipend; this article is about finding a place to train in Delhi.

CMA firms registered for Practical Training/Articleship

ICMAI's directory of Cost Accounting Firms registered for Training lists practising cost accountants and firms that have registered to take CMA trainees. The ten below were in our earlier list and were all still in ICMAI's directory, with these details, when we checked on 9 October 2026. They are not a ranking, and the directory has hundreds more entries for Delhi.

All ten are listed under the second "DELHI" option in the directory's city list. The directory has three other entries named Rakesh Kumar in Delhi; the one above is the entry at Mayur Kunj. Jai Kishan Kabra and Pradeep Kumar Kabra share the same office address and email. Contact details change, so check the current entry in the directory before you write to anyone.

A practising cost accountant can take only a limited number of trainees at a time: up to 10 if they are an associate member of ICMAI and up to 15 if they are a fellow member (CMA Prospectus 2025, Annexure VII). A firm in the directory may therefore have no place free when you apply.

How to find a CMA firm near you

ICMAI's FAQ on practical training says that if you cannot find an employer, you should search its lists of practising cost accountants and organisations "City wise" and approach them with your resume. To do that for Delhi and the NCR:

1. Open the directory of Cost Accounting Firms registered for Training and pick a city. Each result shows the name, address, city, state, PIN and, for most entries, an email.
2. Check every Delhi option. The city list has two "DELHI" entries, "NEW DELHI", "EAST DELHI" and "DELHI SADAR BAZAR", and the same locality can appear under more than one of them. On 9 October 2026 the second "DELHI" option had 281 rows and "NEW DELHI" 511.
3. Filter by PIN code. The directory has no map or locality search, so scan the PIN column for codes near your home or college.
4. Look beyond Delhi if you live in the NCR. Noida, Greater Noida, Ghaziabad, Gurgaon and Faridabad are separate city options.
5. Check companies too. ICMAI's Organisations Registered for Training page lists companies and other organisations by city; on 9 October 2026 its Delhi list had 66 entries, including Power Finance Corporation, IRCON International and Indian Railway Finance Corporation.
6. Apply directly with your resume. ICMAI's FAQ also confirms that you can train with an organisation of your choice that is not on its lists, provided it meets the Institute's conditions.

Once you join, tell ICMAI within 30 days: submit Form T-1 (with the PCMA's UDIN) if you train under a practising cost accountant or a firm of cost accountants, or Form T-4 for any other recognised organisation, and pay the ₹2,500 practical training registration fee (CMA Prospectus 2025, Annexure VII). All forms are filed online on ICMAI's training forms portal.

ICMAI's Northern India Regional Council (NIRC) has its office at CMA Bhawan, 3 Institutional Area, Lodhi Road, New Delhi (CMA Prospectus 2025). Our guide to ICMAI's regional councils has its address, website and the NIRC chapters in the NCR.

Other Great CMA Firms in Delhi

Besides practising cost accountants, CMA students in Delhi train with companies, public sector bodies and chartered accountants' firms. ICMAI publishes a yearly list of organisations that provided practical training, with the number of CMA students each one trained. In the 2024–2025 list, these Delhi entries had the most CMA trainees:

NBCC also appears in the same list under three other entries (East Kidwai Nagar, 4 trainees; National Buildings Construction Corporation, New Delhi, 3; NBCC Limited, New Delhi, 2). In the NCR, the entries with the most trainees were National Hydroelectric Power Corporation (Faridabad, 10), NTPC Limited (Faridabad, 10), Maruti Suzuki India Limited (Gurgaon, 6) and MNG and Co (Noida, 5).

These numbers show where CMA students actually trained in one year; they are not a rating and not a list of current vacancies. For openings and how to apply, see our guide to CMA articleship vacancies.

The BIG 4 – CMA firm you can work in

"Big 4" is the usual name for four global accounting and professional services networks: Deloitte, EY (Ernst & Young), KPMG and PwC (PricewaterhouseCoopers). A CMA student can train with a Big 4 entity if the entity and the work meet ICMAI's conditions:

• The training must be with a recognised organisation and in a recognised area, such as cost accounting, auditing, taxation, financial management or management consultancy (CMA Prospectus 2025, Appendices A and B of Annexure VII).
• If the entity is a chartered accountants' or company secretaries' firm, the training counts only if you work exclusively in its separate management consultancy division or you are its contractual or permanent employee, and under the new scheme the firm's turnover must be more than ₹25 lakh. CA or CS articleship itself is not set off against CMA training.

Big 4 entities take few CMA trainees. In ICMAI's 2024–2025 list, the only Big 4 entity is Deloitte Touche Tohmatsu India LLP in Kolkata, with one trainee, and no Big 4 entity in Delhi appears. Earlier years' lists and the steps to apply are in our guide to CMA articleship in Big 4 firms.

Things to Consider While Choosing a Company

There are several points to consider before you accept an articleship or a job, so that you end up in the right place. Have a look at them below.

Salary

During articleship you receive a stipend, and ICMAI's minimums depend on who you train with:

• With a company or organisation (other than a practising cost accountant), ICMAI's circular of 19 July 2024 recommends a minimum stipend from 1 August 2024. Delhi is a category "X" city, so the minimum while you are pursuing Intermediate is ₹20,000, ₹22,000 and ₹25,000 a month in the first, second and third year. Faridabad, Gurgaon, Ghaziabad and Noida are category "Y" cities, where the first-year minimum is ₹18,000.
• With a practising cost accountant or a firm of cost accountants, ICMAI's stipend table lists ₹2,000, ₹3,000 and ₹4,000 a month for the first, second and third year (CMA Prospectus 2025, Annexure VII).

These are minimums; an employer can pay more. In our view, the work you will learn matters more than a small difference in stipend, especially early in the course. The full stipend tables, including the higher amounts once you are pursuing or have passed Final, are in our articleship stipend guide.

Location

Where is the firm located, and how long will it take you to get there? ICMAI fixes a trainee's working hours at 35 hours per week (CMA Prospectus 2025, Annexure VII), so you will travel to the office on most working days, and a long commute adds up over 15 months. Use the PIN codes in ICMAI's directory to shortlist firms near your home or college.

Growth Opportunities

What you want from articleship is learning that helps your career. Ask what kind of work trainees do, whether you will work on cost audits, tax or compliance assignments, and whether the firm or company has taken CMA trainees before. ICMAI's yearly lists show how many CMA students an organisation trained, which tells you whether it is used to CMA trainees.

Work Culture

No matter how big the organisation, a poor work culture makes training hard. How are trainees treated? Is there too much pressure? Talk to present or past trainees, and read employee reviews, keeping in mind that reviews are opinions. ICMAI's rules also protect you: you are entitled to one day's leave with pay per month and 60 days' leave without pay for ICMAI exams over the training period (CMA Prospectus 2025, Annexure VII).

Job Profile

The profile matters as much as the size of the firm. Your work must fall in one of ICMAI's recognised areas, such as cost accounting, management accounting, auditing, direct or indirect taxation, regulatory compliance or financial management, for the training to count. Pick the area you want to grow in after you qualify.

Frequently Asked Questions

Which firm is best for CMA articleship?

ICMAI does not rank firms. Choose one near you from ICMAI's city-wise directory or its lists of organisations, based on the work you will do, the stipend and how many CMA trainees it has taken; in Delhi, the entries with the most CMA trainees in ICMAI's 2024–2025 list were HUDCO (18), A Arora and Co (13) and MSTC Limited (11).

Can I do CMA articleship in a CA firm?

Only if you work exclusively in the firm's separate management consultancy division or are its contractual or permanent employee, and the firm's turnover is more than ₹25 lakh (CMA Prospectus 2025, Annexure VII). CA or CS articleship itself is not counted for CMA training; if you are pursuing more than one course, see doing CA, CS and CMA together.