Srinagar, March 11: M.P. Ahammad, Chairman of the Malabar Group, has been honoured with the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, recognising his visionary leadership and significant contribution to transforming the global jewellery retail industry.
The awards ceremony, held at the iconic Gateway of India in Mumbai, brought together leading policymakers, industry leaders, and prominent personalities from business and entertainment. The event was attended by Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, and Vijay Darda, Chairman of Lokmat Media Group, along with several ministers, bureaucrats, and distinguished guests.
Presented by the Lokmat Media Group, the awards honour individuals whose vision, leadership, and achievements have significantly shaped industries while contributing meaningfully to society.
Ahammad’s recognition highlights his remarkable entrepreneurial journey and his role in building Malabar Gold & Diamonds into the world’s fifth-largest global jewellery retailer and the largest jewellery retailer of Indian origin.
Expressing gratitude on receiving the honour, Ahammad said the recognition reflects the collective dedication of the entire Malabar team and the trust customers have placed in the brand over the years. He noted that the group’s growth has been guided by responsibility, integrity, and a commitment to creating lasting value for society while striving for excellence in all its endeavours.
Maharashtra has been central to the brand’s expansion, with Malabar Gold & Diamonds currently operating 34 showrooms across major cities including Mumbai, Pune, Nagpur, and Nashik. The growing presence has generated employment opportunities, strengthened the organised jewellery retail ecosystem, and improved customer access to world-class designs and services.
The group plans to further expand its footprint in the state, with a target of increasing its network to 64 stores in Maharashtra by 2029.
Beyond business growth, Ahammad has also championed a purpose-driven model by embedding CSR and ESG commitments into the company’s operations. Since inception, the group has consistently contributed 5 percent of its profits to social initiatives focused on education, healthcare, housing support, and women’s empowerment across the regions where it operates.
The Business Bhushan Award further reinforces Ahammad’s stature as one of India’s respected business leaders, whose entrepreneurial vision and values-driven leadership continue to inspire future global enterprises.
