There have been reports that you have picked up a majority stake in Rajasthan Royals. Is this true?

All these reports are inaccurate. There has been no change in the shareholding structure. We are fortunate to have investors based in the UK, India and Australia. This gives us a global perspective on the decisions we take as a company.

Do you think the IPL in South Africa helped in exposing the brand globally?

The move was a great opportunity for us as well as the IPL to expand the global audience and win a lot of new fans outside of India. We learnt a great deal about the international potential of 'Brand Rajasthan Royals'. We successfully experimented with our merchandise and the 'Royal Turban' and the 'Royal Mooch' (moustache) became synonymous with Rajasthan Royals and its fans at all the games.

Was it a logistic nightmare to shift base to a foreign land?

The move to South Africa gave us as well as the organisers only about three weeks to put together everything from scratch. But the vast majority of the work was undertaken by the IPL and IMG teams. Our work for the Rajasthan Royals was far less than theirs, although our initiatives in creating practice matches against the 2008 South African champions added to a busy workload.

The main challenges related to travel, merchandise and local marketing. We overcame these by working with local partners, and leveraging our sponsors wherever possible.

Is it true that Rajasthan Royals made a Rs 250 million profit?

We do not like to provide specific comments on our financials. However, we are happy to have been profitable for the second year in succession.

Rajasthan Royals had earlier stated that its goal was to breakeven in three years. Are you on track to better this?

Yes, we are! But we can't rest on past performance.

What activities are you planning to keep the brand alive?

We have already reached out to the UK. We played in front of 22,000 fans at Lord's against the 2008 English 20:20 champions Middlesex. We are exploring other alliances and strategic partnerships in different geographies across the world.

In India we do fan 'meets' and 'greets' as a regular exercise throughout the year. We also sponsor the Jaipur based T20 local league called the Royals Cup. The plan is to scale these into bigger events with more participation from sponsors and fans.

Do you have any licensing and merchandising plans for this year or are you waiting for next year?

Yes, we have many. We believe that licensing and merchandising is the most unexploited area for the team, and our focus is to continue to explore strong partnerships in this regard. We hope to create a long term and sustainable merchandising programme around the team.

Our licensing and merchandising programme continues to grow and Shilpa's presence is a huge benefit - with lots of great new ideas.

What are the key elements one needs to keep in mind when designing this?

It is important to pick a few categories that have potential in a developing market such as India. The temptation is always to do multiple deals. But we need to look for strategic partnerships with products and brands that share our brand values.

It is also important to execute well, once we have identified our focus areas. My hope is that we will see exciting partnerships in the areas of retail, apparel and gaming this year.

Shilpa Shetty and Raj Kundra have taken a 12 per cent equity stake in Rajasthan Royals. Will this help?

Through this investment, we feel that we got dual benefits at the price of one. Raj contributes business acumen and is a great addition to our board. With Shilpa's international status and media experience, we are gaining a real advocate for our team and enhancing RR's global brand.

It clearly expands the off-field options available to us. Overall our strategy will always be to prioritise the cricket. But off the field, we will expand our activities to reach out to our local and international fan base.

Is it true that deals can't solely rest on the on-field performance but also on the brand attributes?

We think that our brand values are extremely differentiated. We focus on innovation, youth, the team ethos, and the 'win from anywhere' mantra.

This is 'Brand Rajasthan Royals'. Our sponsors and merchandising partners have a lot to gain with that type of association. The brand needs to be built holistically and not just around on-field; it should also represent what its stands for, off-field.

How is Rajasthan Royals perceived as a brand?

What people tell me is that we are the IPL's most loved team. This is due to our brand of cricket, our team ethos, and our emphasis on youth. People like the underdogs, which seems to be a label that we are yet to shake. I think that we are also seen as a very internationally mobile franchise.

In-stadium hospitality will be an important revenue source going forward. Has Rajasthan Royals firmed up plans in this area?

We are constantly testing, and iterating our plans. There is lots of 'best practice' across the world from events across all sports.

However, the right in-stadium experience has to be customised for the IPL, which has its own unique characteristics - the brevity of the match, the relatively short period of time that fans are in-stadia (but not watching the game); and the mix of demographics in different parts of the stadia. As is the case for much of our business, there is no single 'silver bullet.'