Should I rebuild my portfolio to achieve my target corpus?

I am a new investor. I can invest around Rs 10,000 per month in mutual funds and even around Rs 50,000 for a short six month period. I am currently investing in:
Mirae Asset Prudence Fund: Rs 30,000 (a lumpsum)
HDFC Small Cap Fund (G): Rs 5,000 (An SIP)
I want to build a corpus of Rs 5 lakh after five years. Do I need to rebuild my portfolio to achieve this target? Please help me and suggest funds for a lumpsum investment in this market boom. I have a short-term goal with a high risk profile.
--Dhaval Jain

Shilpa Wagh, Chief Financial Coach, Wagh Financials, responds:

Instead of HDFC Small Cap Fund, you can consider:
Franklin India Smaller Companies Fund
DSP BlackRock Micro Cap Fund

SBI Small & Midcap Fund

To invest in multicap schemes, you can consider:
ICICI Prudential Value Discovery Fund
Franklin India High Growth Companies Fund

To reach your target of Rs 5 lakh in five years with 10 per cent returns, you need to invest around Rs 6,500 per month. Please note that since you are investing in risky funds for a five year-period, you must be able to tolerate the market volatility.