Expert view, Oct. 28 -- Srinivas Rao Ravuri, Chief Investment Officer (CIO), Bajaj Life Insurance, expects mid-teens earnings growth for Nifty 50 companies in FY27 and FY28. In an exclusive interview with Mint, Ravuri said the poor performance of some blue-chip companies over the last five years shows that even a great company can turn out to be a poor investment if investors pay too much for it. The other lesson is that equity returns can be unpredictable, even over fairly long periods. Edited excerpts:

I don't think India's long-term growth story is under threat. We have strong structural drivers in our favour: a young population, a large domestic consumption market, rising incomes, urbanisation and continued investment in infrastructu...