First of all, let me take my time to shatter some of the prevalent myths regarding a one-year MBA, such as:
You cannot continue the course with your job or take a furlough for this course because the classes run from 9 to 5 on all weekdays and may even run on the weekends.
Proceeding towards the question, you are eligible for one year MBA if you are a professional with at least five years of work experience. There's clearly career growth after this course because, without this MBA, professionals with five years of experience are offered roles of mid or senior management. This transition is hard because companies don't hire you for high-paying jobs just on the basis of that much experience. Doing a one-year MBA proves better than settling for a below-average package.
This MBA course at IIMs assists you to establish your network that in turn helps you to switch to high-paying senior managerial jobs.
In the nutshell, most of the companies have started to value one-year MBA programs, you are most probably going to gain that extra edge in your career growth after pursuing this course. Even then, there might be some new HR's who are not up to date and may not open up to the one-year MBA Program.