M3M India’s promoter family has taken a significant step outside real estate by entering the country’s fast-rising sports economy. Through their family office, they have acquired the NCR franchise in the first-ever Indian Pickleball League (IPBL), an initiative backed by the Times of India Group. The team, named Capital Warriors Gurgaon, will be led by Dr. Payal Kanodia and Aishwarya Bansal, who will shape the franchise’s vision, brand identity, and long-term strategy.
This move marks a clear shift in how one of India’s prominent real estate families is building a more diversified portfolio. Only months earlier, the family office announced a USD 20 million investment in beauty-tech platform Kult, taking a 55 percent stake. Now, with pickleball, they are tapping into a sport that is sweeping through India’s urban centres and emerging as a serious recreational movement.
The appeal of pickleball lies in its simplicity. It is played on a small court, uses lightweight paddles, works for all fitness levels, and creates a social environment that pulls in players of all ages. What began in small community courts in the US has become a global phenomenon. India is now among the fastest-growing markets.
Market research firm Bonafide Research estimates that the Indian pickleball segment will grow at around 26 percent annually between 2024 and 2029. Active player numbers have risen by almost 275 percent in recent years, and the player base could cross one million by 2028. Families, working professionals, senior citizens, and school-age children are picking up the sport because it is easy to learn and far more accessible than many other urban fitness activities.
For M3M India’s leadership, this accessibility is not just a commercial opportunity but a cultural one. Speaking about the new franchise, Aishwarya Bansal said the investment is aimed at building community spaces and encouraging youth participation. She believes pickleball has the potential to become “second only to cricket in followers” in the long run. Her view reflects a growing belief among investors that emerging sports tied to lifestyle and urban living will define India’s next decade of recreation.
At the launch, Dr. Payal Kanodia highlighted that the move dovetails with the work of the M3M Foundation. Through its flagship sports programme “Lakshya”, the foundation supports young athletes across the country. This year, the foundation committed to developing 50 pickleball courts nationwide, with a special focus on underserved communities. This infrastructure push is designed to give children easy access to organised sport, something India still struggles to provide at scale.
Kanodia emphasised that sport builds discipline, confidence, and resilience—qualities the foundation wants to nurture in young people. The Times of India Group acknowledged the foundation’s efforts during the launch of the IPBL, which has become the first national-level, government-recognised pickleball league in India. For M3M India, this aligns personal investment with social responsibility: using sport not only to grow a new business vertical but to create public value.
The rise of pickleball also mirrors changes in Indian urban life. In cities like Gurgaon, Bengaluru, Mumbai, and Pune, weekend leagues, residential tournaments, and corporate matches are becoming the new social currency. WhatsApp groups, neighbourhood rivalries, and late-evening games have turned pickleball into a community habit rather than a niche hobby. Its appeal spans age groups - from schoolchildren to retirees which makes it especially relevant in a country with a young workforce and a rising middle class looking for accessible recreation.
The Indian Pickleball League is poised to tap into this momentum. Backed by one of the country’s largest media houses, the league promises strong visibility, sponsorship interest, and high-quality broadcasting. It positions pickleball as both a competitive sport and a lifestyle statement.
Capital Warriors Gurgaon will represent NCR in the league’s debut season. The franchise plans to bring in top Indian players, international coaching expertise, and a fan experience that mirrors the energy of fast-paced urban sport. For the promoter family, the aim is to build a team that symbolises new-age India - aspirational, inclusive, and globally connected.
With this move, M3M India’s family office signals a broader shift taking place across Indian business families. Diversification now means investing in areas that speak to young consumers: beauty-tech, wellness, sports, social recreation, and community-centred experiences. Pickleball sits comfortably at that intersection, making this investment as much about future culture as future returns.
As Capital Warriors Gurgaon steps onto the court for the first season of the Indian Pickleball League, it carries a larger ambition: to help make pickleball a household sport and to turn NCR into a hub for the country’s next great sporting wave.
