Yup CGPA matters in placement. I was 2nd topper in civil Engineering branch with a CGPA of 9.43 in (2010–2014), but you should have to clear written and GD round first. it gives you an extra edge over others. Getting good marks in KIIT university is not that much tough. Many a times if you are having excellent CGPA throughout they will not gonna ask you technical questions in interview they just will put some HR related questions before you.
Having a good CGPA not just only matters in Placement, after 2nd year many IITies & NITies call for paid research internship where they set criteria like top 5 of your branch and something like that. Even after B.Tech if you will gonna join IITies for integrated M.Tech & PHD prog then at that time CGPA only matters in getting shortlisted.
But instead of just having good CGPA, you should have developed good leadership and managerial skills through joining different societies and participating in different events.