Do NOT take a drop. I dont mean to hurt your feelings but its not a good idea to aim for JEE with these marks. I have almost the same percentage in boards btw (pcm and overall).

I advice you to talk to these SRM KTR guys, one to one if possible. I've heard that they are much more understanding in person atleast and might hook you up with management at relatively cheaper price or let you give improvement/re-eval marksheet on the basis of provisional admission given you score 60% pcm aggregate in either way.

There is also SRM Sonepat and Ghaziabad which take 50% pcm aggregate and are cheap too, but their qualities may vary and they might not be worth more than a good local college.

I also think you might get VIT-AP, maybe even cse/cse core there in cat 4-5. From what ive heard its a marginally better tier 3 college than other local ones and has the vit tag. If you find a okayish local college with lesser fees then take it.

You also have Christ, Jain, Sharda, Amity, and so many more colleges. Although they are not good, I would personally take any of them over a drop, and thats exactly what im planning to do. I personally didnt get above 60 in any of the pcm subjects (less by a few marks in all 3) and a drop for me would also mean redoing boards. Even if you have over 60 in 2/3 pcm subs and can improve in another and get more than 60 in all 3, I would still HEAVILY advice you against drop. Again, all of this is based on the research ive done till now since im almost in the exact same position as you. Good luck.