Will Pharma & Hospitals Lead Markets In 2026? | Portfolio Strategy Revealed

Despite a cautious near-term market outlook, the portfolio manager highlights strong conviction in a portfolio built around pharma, diagnostics, hospitals, telecom and digital platforms like Yatra and Tejas. Over the years, these strategies have delivered returns significantly above benchmarks and the broader PMS universe. Looking ahead to 2026–2028, the expectation is a 20% profit after tax (PAT) compounding on a weighted average basis across portfolio companies. With Nifty earnings projected around 12–13% and a P/E near 21, the portfolio’s valuation strength (PEG ~2) and earnings growth visibility are seen as major advantages. The team plans to continue holding high-conviction ideas, believing that disciplined selection and preparation-not luck-will drive superior long-term outcomes.