Fortune India 40 Under 40 2026: RCB is a bet on India’s rising consumer, says Aditya Birla Group’s Aryaman Birla

Aryaman Vikram Birla, a seventh-generation scion of the Birla family, is emerging as a key face of the Aditya Birla Group’s next phase of growth. At 28, Birla is helping drive investments across sports, renewable energy and consumer businesses as the $67-billion conglomerate expands into new-age opportunities.

Birla, Director, Aditya Birla Group, said the group’s investment in the IPL and WPL franchise Royal Challengers Bengaluru (RCB) is essentially a bet on India’s consumption story and the rising purchasing power of its middle class.

“We’ve been investing in the Indian consumption story quite deeply for quite a long while,” Birla said in a fireside chat with Shashwat Goenka, Vice Chairman, RPSG Group, at the Fortune India 40 Under 40 event in Mumbai. The discussion was themed “In Search of New Age Business Adventures.”

The group had been studying sports as an investment opportunity for some time, Birla said. As India’s middle class expands, rising consumer spending is expected to boost advertisers’ and broadcasters’ ability to pay for premium sports content, creating value for franchises.

“So it was really a bet on the fact that the Indian consumer will continue to grow,” he said.

Birla also sees sports becoming an increasingly institutionalised and investable asset class. However, he said there are no immediate plans for another sports acquisition, with the focus now on integrating RCB and creating value from the franchise.

“We have to be sure that we can integrate this, create value, and be focused on creating value with this asset, and then think about sports more as a platform,” he said.

RCB eyes year-round growth

Birla said the group wants RCB to become more than a two-month IPL proposition by building a year-round community and strengthening its connection with fans.

“We have to make sure that we invest very deeply, continue to invest in the cricket,” he said.

Broadcasting currently accounts for around 70% of RCB’s P&L, according to Birla. Increasing the share of other revenue streams could unlock significant value.

“If we can take the 30% of other revenue to 50%, I think that’s where the value will be created for us,” he said.

Birla said RCB’s strong fan connect was one of the biggest takeaways from his first season as an owner.

“It has a really strong community, and it has fans across cities and across the board,” he said.

Consumption, renewables key bets

The RCB investment is part of a broader strategy to identify large markets where the group can create value. Birla said the group will continue strengthening its core businesses while pursuing new opportunities linked to India’s structural growth.

Fashion retail, jewellery retail and food services are among the consumption categories he sees as attractive as Indian households move up the value curve.

“We’re very clear about the themes that we want to play, and then sort of try to fill in those buckets where we aren’t currently there,” he said.

Renewable energy is another major opportunity. Birla cited India’s 500 GW renewable energy ambition, rising electrification and the growing importance of energy security as key drivers.

The opportunity extends beyond climate change, he said, with renewable energy increasingly linked to national energy security and economic competitiveness.

“We want to be large contributors to a mega trend,” Birla said.

From cricket to business

Birla’s own journey into the family business has been unconventional. A former professional cricketer, he pursued an MBA before joining the Aditya Birla Group.

A few years into his cricket career, he said, he had decided he wanted to move into business.

“I think a couple of years into playing professional cricket, I knew what my path would look like, and then I sort of worked towards that,” he said.

Cricket, however, continues to shape his approach to business. The sport taught him discipline, hard work and resilience, as well as how to handle success and failure.

“Sport in general teaches you just how to work hard, why you should work hard, discipline,” he said.

Legacy and lessons

As a seventh-generation member of the Birla family, Birla sees the legacy as an opportunity and privilege, while acknowledging the pressure to preserve and grow what previous generations built.

“There are very few people who have the opportunity and such a strong platform base,” he said.

Asked about the most important business lesson from his father, Birla recalled the advice he received on his first day at work: enjoy what you do.

“Whatever you do, make sure that you enjoy the work that you do,” his father told him.

Birla described it as simple but “surprisingly potent” advice. In a lighter exchange, he said his father is “always right” about one thing: free cash flow matters the most.