Before I even answer your question let me contradict it. No, the IIM Lucknow brand value is not really increasing over the FMS in any aspect. If anyone really thinks so then he/she is just after the brand name. To clarify my point, I have listed out some strong points in favor of FMS that might change your mind.
So we can definitely conclude that FMS is a fairly decent choice and that it’s just a misconception that IIM Lucknow is increasing in brand value. Someone has rightly said
At an IIM you loan your MBA, but at FMS you own it!