Mumbai, March 11, 2026: Mr. M.P. Ahammad, Chairman, Malabar Group, has been honoured with the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, in recognition of his visionary leadership and pivotal role in transforming the global jewellery retail landscape and society at large.
Held at the iconic Gateway of India, the awards ceremony brought together leading policymakers, industry leaders, and prominent personalities from business and entertainment. The event was attended by the Chief Minister, Sri. Devendra Fadvanis, and Deputy Chief Minister, Sri. Eknath Shinde of Maharashtra, Sri. Vijay Darda, Chairman of Lokmat alongside ministers, bureaucrats, and distinguished figures from across sectors.
Presented by Lokmat Media Group, the awards celebrate individuals whose vision, leadership, and achievements have significantly shaped industries while contributing meaningfully to society. Mr. Ahammad’s recognition highlights his remarkable entrepreneurial journey and the role he has played in building Malabar Gold & to become the 5th largest global jewellery retailer and the largest jewellery retailer of Indian origin.
Expressing his gratitude on receiving the honour, Mr. M.P. Ahammad, Chairman, Malabar Group, said, “I am deeply honoured to receive the Business Bhushan award at the Lokmat Maharashtrian of the Year Awards. This recognition reflects the collective dedication of the entire Malabar family and the trust our customers have placed in us over the years. Our journey is founded on the principle of collective growth of all our stakeholders guided by responsibility, integrity, and a commitment to creating lasting value for society while continuing to pursue excellence in everything we do.”
Founded in 1993, Malabar Gold & Diamonds has been a pioneer in fostering responsible and transparent jewellery retail, contributing significantly to employment generation, strengthening the organised retail ecosystem, and enhancing customer experience through access to world‑class designs and services.
Today, the brand stands as a true flag bearer of India, showcasing the nation’s craft and soul to the world through its 425 showrooms across 14 countries. The brand has reimagined the jewellery industry by integrating the entire value chain, from design and manufacturing to retail and beyond.
Maharashtra remains a key market for Malabar Gold & Diamonds, now with 34 showrooms across major cities. This growth has boosted employment, strengthened the organised jewellery ecosystem, and improved access to quality designs. His substantial contribution to the state earned him this honour, and the Group is committed to further expansion, targeting 64 stores in Maharashtra by 2029.
Beyond business growth, Mr. Ahammad advanced a purpose‑driven model by embedding CSR/ESG commitments into the company since inception, consistently contributing 5% of profits to education, healthcare, housing support and women’s empowerment programmes, benefiting the society across regions of operations.
His recognition with the Business Bhushan Award further reinforces his stature as one of India’s most respected business leaders whose entrepreneurial vision and values-driven leadership serve as an inspiration and a blueprint for collective progress for future global enterprises.
About Malabar Gold & Diamonds
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. With an annual turnover of $7.36 billion, the company currently ranks as the 5th largest jewellery retailer globally and operates a strong retail network of over 425 showrooms across 14 countries, supported by offices, design centres, wholesale units, and manufacturing facilities across India, the Middle East, the Far East, the USA, the UK, Canada, Australia, and New Zealand. The group, owned by more than 3,500 shareholders, has over 30,000 professionals from more than 26 countries working towards its continued growth. Malabar Gold & Diamonds also operates an online store, enabling customers to purchase jewellery at any time.
ESG (Environmental, Social & Governance) has been a core commitment of Malabar Group since its inception. The key ESG focus areas of the Group include health, housing, hunger eradication, education, environment, and women empowerment. The group contributes five percent of its profits to social responsibility initiatives in the same country of operation.