Balan was married to Saroja Balan and they had seven children, six daughters and one son, B. Srinivasan who is now the managing director of the Vikatan Group.
Balan menikahi Saroja Balan dan memiliki tujuh anak, enam putri, dan satu putra, B. Srinivasan yang sekarang menjadi direktur manajer Vikatan Group.