Yes, it’s a very good CGPA in my view.
Further it depends on you where you want to pursue your career.
If you are aiming for the campus recruitment, then CGPA of 8.7 is enough for you to push you into the short-listing recruitment list of all the big companies. You can go for IT jobs or Core ECE companies like Qualcom,etc. as well.
If you are interested in doing higher studies or want a good PSU like ONGC, AAI,etc. and want to go for GATE, this CGPA will inform your guide that you are a hardworking student and will give your best in everything. Besides, the preparation for GATE will also become easy as this CG shows that you are well-versed with the basic concepts of ECE and merely need to hone your concepts in little more detail to get a good rank in GATE. For this you can go for Previous Year questions to get a look-and-feel of the GATE Exam.
On a different note, if you wish to become a gazetted officer and you are willing to give ESE conducted by UPSC, this CGPA will definitely help you to impress your interview panel in the personality test of ESE. The CGPA does not really play a vital role in increasing your interview marks but it certainly acts as a push-factor for taking your marks on a higher side. Besides, this CGPA shows that your writing skills are also well which will definitely help you in the ESE Mains Exam.