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Will these mutual funds help me to create Rs 7 crore?

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I am 32 years old and have a moderate to high risk appetite. I am currently investing Rs 30,000 per month in the following mutual fund schemes via SIP:
Aditya Birla Sun Life Tax Relief 96: Rs 5,000 per month
Aditya Birla Sun Life Focused Equity Fund: Rs 5,000 per month
Motilal Oswal Multicap 35 Fund: Rs 5,000 per month
L&T Midcap Fund: Rs 5,000 per month
Principal Emerging Bluechip Fund: Rs 5,000 per month
SBI Small Cap Fund: Rs 5,000 per month

My goals are:
Rs 75 lakh after 20 years
Rs 7 crore after 23 years

Is this mutual fund portfolio good to achieve my goals or should I make any changes?
--Siddhartha Tiwari

Shweta Jain, Founder, Investography, responds:


You need to invest Rs 7,600 per month to achieve your target corpus of Rs 75 lakh after 20 years, assuming an annual return of 12%. To get Rs 7 crore, you need to invest Rs 48,000 per month for 23 years.

You are investing Rs 30,000 per month. Slowly and steadily increase your monthly investment to achieve the target amount and stay invested for the entire tenure to achieve your goals. The portfolio has a good combination of large cap and mid cap schemes. You can continue to invest in them.
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