An audio engineer friend of mine living in India has requested a favor of me to ask around for opinions on these two.
He tends to favor the Presonus but local audio professionals are pushing for the Yamaha.
 
The environment is a school he is associated with and the intended use is for classes, teaching and local music production. They want to be able to move these from the school to outdoors and back when there are live venues.

I'd advise you to have a look at the Behringer X32 (or its derivatives).
Offers more, better sound, and they're great overall performers.
We've used the X32 live many times... and I just grabbed the "Compact" version for my studio.

Thanks

I've had the Presonus StudioLive 16.4.2 for about 4 years now, which is the first version of those mixers.
I don't regret my purchase at all and find the mixer/audio interface to be excellent.
 
I was torn between that one and the Yamaha 01V96 series.
 
Presonus market excellent products, as do Yamaha. I've never been disappointed with Yamaha products either.
 
[I still have an older analog Yamaha mixer from 1992, still working just fine.]
 
But since then, Behringer has come out with the x32, which is highly impressive.
 
As Jim says, for the same price range, you should at least have a good, in depth look at that one.
 
Had I not bought my SL16.4.2, I'd been going with either of those other 2.
 
I think you'll do well with any of the 3, but I must be totally honest and tell you that there were some complaints a few years ago about the Presonus mixers cutting out, freezing up or just out-right dying when used for live performances.
 
Myself, I've never had any troubles.
 
I'm fairly sure that the new line of mixers are ok now, as well as offering some additional features, but I'd be remiss if I did not inform you of these previous issues. 
 
One other thing - Presonus does have a super - excellent service ethic & are known for going the extra mile & doing more than required when their products come in for any service - at no extra charge. 

I had the older Presonus SL24.4.2 for 2 years with no problems.  A great live desk.
 
I've just traded it in for the new SL32.4.2ai  Even more channels to play with.
 
The biggest argument for getting the X32 has always been the lack of flying faders on the Presonus boards.  But that's generally been made by people who haven't used them.  In reality you don't need them, because the faders are single function.  They do channel volume and that's it. Just like an analogue mixer.
 
There are also no menus to get lost in. All functions are to hand on buttons or knobs at all times without paging.
As a teaching tool in a school they are ideal.
 
The only thing I don't like is the limit of 4 sub groups,  so only 2 stereo subs for (say) drums and EFX.  and if you use the subs as delay tower outputs (for which they have built in delay with automatic setup) you loose them as well.  But I can live with that.
 
Total remote control from an iPad is also a big deal for me.  I don't need a big multicore, I just put the mixer at side of stage and mix FOH from an iPad. It has access to everything.

The flying faders matter basically only if you want to use it as a control surface, in addition to a mixer. For that, you need motorized faders or it won't work well. So like at the recording studio on campus where I work the engineer has a Yamaha 02R96VCM. When recording, it works as a mixer (and soundcard) getting audio in to the DAW and handling gain and that jazz. When mixing/mastering, it works as a control surface to control his DAW.
 
However if you don't do that, then motorized faders are of no benefit.
 
One other thing you could take a look at (not that you needed more options) is Tascam's DM mixers. They are a bit dated in their appearance but are solid devices from the little I've seen of them and not bad price wise.