No,
Broadcasters launch regional sports/entertainment channels only in the markets where Hindi is understood by fewer people.
Thus it is simple logic that people who can't watch Hindi program will tend to watch Program in their native language. E.g Kannada, Tamil, Telugu.
Another thing to consider regional language sports channel is local content like Kannada premier league in Karnataka & TNPL in Tamilnadu.
The Punjabi language is similar to Hindi. So there is no chance for star sports Punjabi, Star sports Bhojpuri, Star sports gujrathi, Star sports Marathi.