Mumbai, March 11, 2026: M.P. Ahammad, Chairman of Malabar Group, has been conferred the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, recognising his visionary leadership and transformative contribution to the global jewellery retail industry.
The award was presented at a grand ceremony held at the iconic Gateway of India in Mumbai. The event was attended by Devendra Fadnavis, Eknath Shinde, and Vijay Darda, along with ministers, senior bureaucrats, industry leaders and distinguished personalities from across sectors.
Organised by Lokmat Media Group, the awards celebrate individuals whose vision, leadership and achievements have made a lasting impact on industries while contributing meaningfully to society. Ahammad’s recognition highlights his entrepreneurial journey and the pivotal role he has played in building Malabar Gold & Diamonds into one of the world’s leading jewellery retail brands.
Founded in 1993, Malabar Gold & Diamonds has grown into the fifth-largest global jewellery retailer and the largest jewellery retailer of Indian origin, with a presence spanning 425 showrooms across 14 countries. Under Ahammad’s leadership, the brand has redefined the jewellery retail ecosystem by integrating the entire value chain—from design and manufacturing to retail—while maintaining a strong focus on transparency, customer experience and responsible business practices.
Expressing his gratitude after receiving the honour, Ahammad said the recognition reflects the collective dedication of the entire Malabar family and the trust customers have placed in the brand over the years. He emphasised that the company’s journey has been driven by responsibility, integrity and a commitment to creating lasting value for society.
Maharashtra has emerged as a key growth market for Malabar Gold & Diamonds, with 34 showrooms currently operating across major cities in the state. The company plans to further strengthen its footprint by expanding to 64 stores in Maharashtra by 2029, a move expected to generate significant employment and strengthen the organised jewellery retail ecosystem.
Beyond business growth, Ahammad has championed a purpose-driven model of entrepreneurship, embedding CSR and ESG principles into the company’s core strategy since its inception. The group allocates 5% of its profits to social welfare initiatives focused on education, healthcare, housing support and women’s empowerment, benefiting communities across regions of operation.
The Business Bhushan Award further reinforces Ahammad’s stature as one of India’s most respected business leaders, whose values-driven leadership and global vision continue to inspire the next generation of entrepreneurs while promoting inclusive and sustainable growth.
