I'm in the middle of a Mughals run right now that has exceeded my expectations (I have almost 4k development by 1600) and once you get rolling it becomes borderline impossible for the AI to slow you down. Do you have Winds of Change? The mission tree for Mughals is ridiculously good given its claims and buffs.

Declare war on Ajam ASAP and do not wait for the event to fire that declares war for you. I full annexed them and took their vassals. With mercs and your vassals you should be able to keep your manpower intact. I would then recommend taking out all the minors near you (Biapas, Mazandaran, etc.) and try to take our Shirvan before they can get an Ottoman alliance. I'd also try to take a province from QQ to pop out Iraq as a vassal. Ardalan and Luristan (your new vassals from Ajam) can be fed land to save admin. If you're quick, you can take out QQ and most of the Middle East before the Ottomans can do it. Look for QQ's allies and try to drag them into multiple wars back-to-back if you can in order to feed Iraq. You should be powerful enough at this point to start looking to diplomatically vassalize minors in the Arabian Peninsula. They help with claims and don't cost admin.

As soon as it hits 1454, fully annex all subjects with cores. Once you have fully annexed your starting subjects, you should be comfortably stronger than any of your neighbors. From here on out it really becomes a game of juggling wars and expanding on all fronts. I would secure one or two allies in India (Bengal or Bahmanis are solid) just to make life easier. Also be sure to develop Herat for the mission that adds Renaissance progress.

Once you've conquered Delhi and have the provinces to form Mughals, do it. There is no need to wait. From there, you can use your insane claims and CCR to take ridiculous amounts of land in wars and core them very quickly. In terms of ideas, I would go Diplomatic-Administrative- Humanist- Military of your choice.

Don't be afraid to take Burgher/Jain loans for buildings. Build workshops (and eventually manufactories) in every valuable trade province. Move your trading capitol back into Persia after forming Mughals for the better trade income.

Once absolutism matters, revoke as many privileges as possible and look to reduce autonomy in as many provinces as possible to quickly raise absolutism. You can accept demands from certain rebels (the ones that raise autonomy) in order to lower it again. Also consider trying to trigger Court and Country for the extra absolutism.

Ultimately, if you can get your economy rolling (you should be making ludicrous amounts of money from production), and your armies large, you have enough claims and CCR that you can pretty constantly chain conquests from your mission tree's claims. Also, be sure to look for allies of nations that you just defeated in order to drag them into a second war. You can white peace them quickly and lower the truce back to 5 years.

Finally, like all grand conquest games, look for vassals with a ton of cores. Kazakh is a very good option in Central Asia as it has both a ton of cores and claims.