Gurugram: Marking a major diversification beyond real estate, the promoter family behind M3M India has forayed into sports management with the acquisition of the NCR franchise in the debut edition of the Indian Pickleball League (IPBL)—a flagship initiative by the Times of India Group. The team, aptly named Capital Warriors Gurgaon, will be led by Dr. Payal Kanodia and Mrs. Aishwarya Bansal from the M3M India Family Office, who will helm strategy, branding, and the broader vision for the franchise.
This development comes shortly after the family office made headlines with a USD 20 million investment for a 55% equity stake in beauty-tech platform Kult, marking its continued push into high-growth consumer-facing sectors.
A Strategic Move into India’s Fastest-Growing Sport
Unveiling the franchise, Aishwarya Bansal, Family Office of M3M India, highlighted the sport’s rapidly expanding popularity and cultural relevance:
“Pickleball is one of the fastest-growing sports globally, and India is perfectly positioned to lead this cultural movement. Our entry into the Indian Pickleball League (IPBL) is not just an investment in sport—it is an investment in community, youth engagement, and the future of urban experiences. In times to come, we see Pickleball as the second highest in followers after cricket. The Capital Warriors Gurgaon will embody the spirit of new-age India: energetic, inclusive, and globally inspired. We are grateful to the Times of India Group for creating a world-class platform that allows emerging sports to thrive.”
At the league launch, Dr. Payal Kanodia, Family Office of M3M India and Chairperson & Trustee, M3M Foundation, reinforced the organisation’s long-term commitment to India’s sporting ecosystem:
“With ‘Lakshya’—our flagship sports initiative—at the heart of the nine major programmes of the M3M Foundation this year, we have deepened our commitment to nurturing sporting talent and strengthening sports infrastructure and accessibility across India. Recognising the vital role that sports play in building character, discipline, and resilience, we took a bold step forward by committing to the development of 50 pickleball courts across the country, especially to train and uplift underserved children. By creating infrastructure that inspires active and healthy living, we are opening new pathways for growth, inclusion, and community empowerment. Together with ‘Capital Warriors Gurgaon’, we are striving to give back to the city we love, envisioning it as a vibrant playground where every child has the opportunity to play, every family finds time to bond, and every elderly citizen finds joy simply by being part of an active, connected community.”
Why the Investment Matters: Key Growth Drivers
1. Explosive Market Growth
- Pickleball is one of the world’s fastest-growing sports.
- In India, active participation has surged by 275% in recent years.
- The Indian pickleball market is projected to grow at a ~26% CAGR (2024–2029), per Bonafide Research.
- The country is expected to cross 1 million players by 2028.
2. Accessible & Inclusive Sport
- Easy entry: Existing tennis or badminton courts can be repurposed.
- Appeals to a wide demographic — from ages 8 to 80.
- Community-driven culture fosters social engagement and intergenerational bonding.
3. Strategic Alignment with M3M India’s Diversification Vision
- Pickleball aligns with the family office’s investments in new-age, lifestyle-focused sectors.
- Complements M3M’s positioning across health, wellness, youth culture, and urban community-building.
- Reinforces the organisation’s long-term focus on social inclusion and grassroots development.
Capital Warriors Gurgaon: NCR’s New Sporting Identity
Representing the NCR region, Capital Warriors Gurgaon will debut in the inaugural season of the Indian Pickleball League, bringing together:
- Leading Indian pickleball athletes
- International coaching talent
- A vibrant, community-centric fan experience
With the Times of India Group launching India’s first government-recognised national pickleball league, the franchise aims to position Gurgaon as a powerhouse in one of India’s most exciting emerging sports.
