Hi prabhu1208,
Were there specific sections in the Quantitative and Verbal portions of the exam that you felt specifically weak in (for example, maybe geometry for math or reading comprehension for verbal)? If so, I'd recommend focusing (namely, practice doing lots of problems) on those sections, while still keeping up practicing the areas you're already good at so you don't lose the skills you've already picked up. Also, did you feel rushed during the exam? Were you able to finish all of the questions or did you spend too much time on a few? If you felt like you were rushing, I'd also work on time budgeting.
Keep in mind that scores on practice tests are not always indicative of your score on the actual GMAT. A variety of factors may come into play, such as stress, not being used to the testing environment, and etc. Something I always tell my students is NOT to study the day of the exam, and NOT to change your routine the day of (or the day before) the actual exam; don't wake up at the crack of dawn if you usually wake up at noon, etc. This will help decrease your stress level.
Lastly, I've had students who've gone from the 500s to 650+. However, this is not easy (as I'm sure you know), and it took diligent studying on their part. But just so you know, it can be done!
Hope this helps, and good luck!
Jim S. | GMAT Instructor | Veritas Prep
