Thanks Shivam
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From what I can see a Schengen visa is granted for 90 days and during this period you can travel wherever you within the Schengen territories. After this period you have to leave Schengen territory for a period of at least 180 days before you are allowed to re-enter. Visa extensions cannot be applied for within a Schengen country, like Portugal.
You may want to look into the options of getting a residence visa if you plan on staying in Portugal for longer than 3 months.
Read more on the Visas for Portugal page.
Good luck
Shantalie