Corporate profits, markets can double over next 4-5 years: Prateek Agrawal

We are focussed on the high quality and high growth part of the market and believe that this part is pricing in less growth than what is being delivered by these businesses, Prateek Agrawal said

Even as markets are hitting new highs, Prateek Agrawal, Business Head & Chief Investment Officer at ASK Investment Managers, which has total assets under management of over Rs 12,000 crore, tells Vishal Chhabria that valuations are still at fair levels, and there could be further gains aided by a revival in earnings growth. If done well, fresh equity issuances can help markets and investors, he says. Edited excerpts:

Markets have been hitting new highs, but valuations are at record highs too. Does that worry you?

No. I believe that in the context of declining interest rates, the valuations are fair