How to create Rs 10 lakh in five years?

I want to create Rs 10 lakh in five years by investing in mutual funds via SIPs. Currently, I am investing Rs 11,000 per month via SIPs in these schemes:
1. Reliance Tax Saver (ELSS) Fund: Rs 3,000 per month
2. HDFC Taxsaver Fund: Rs 3,000 per month
3. Franklin India Smaller Companies Fund- Regular (G): Rs 2,500 per month
4. HDFC Infrastructure Fund (G): Rs 2,500 per month
Please suggest if this is right?
-- Kunal Anand

Apoorva Vohra, Founder, Finolutions Wealthcare, responds:

To create a corpus of Rs 10 lakh in five years, with a monthly investment of Rs 11,000, you need to invest in those schemes that generate 17 per cent returns on a compounding basis. While historically, equity schemes have delivered 17 per cent returns over the last five years, it is safe to lower the expectations. You might have to increase your SIP allocation at some stage. While the schemes you mentioned are fine, it would be wiser to stick to diversified funds. Also you should avoid sectoral funds when you are making a goal-based investment.