Mr. M. P. Ahammad, Chairman of Malabar Group, has been honoured with the Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, recognising his leadership and contribution to the global jewellery retail industry.
The award was presented by Maharashtra Chief Minister Devendra Fadnavis at a ceremony held at the Gateway of India in Mumbai. The event brought together policymakers, business leaders and prominent personalities from various sectors.
Among the dignitaries present were Deputy Chief Minister Eknath Shinde and Vijay Darda, Chairman of Lokmat, along with ministers, bureaucrats and industry representatives.
The awards, organised by Lokmat Media Group, celebrate individuals whose leadership and achievements have significantly influenced industries while contributing positively to society.
Recognition of Entrepreneurial Leadership
Mr. Ahammad’s recognition highlights his role in transforming Malabar Gold & Diamonds into one of the world’s leading jewellery retail brands. Under his leadership, the company has grown to become the fifth-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.”
Growth of Malabar Gold & Diamonds
Founded in 1993, Malabar Gold & Diamonds has played a significant role in shaping organised jewellery retail through transparent business practices, customer-focused services and global design offerings.
Today, the brand operates 425 showrooms across 14 countries, integrating the entire jewellery value chain from design and manufacturing to retail operations.
The company has also contributed to employment generation and the development of the organised jewellery ecosystem while enhancing consumer access to international-standard designs and services.
Maharashtra as a Key Market
Maharashtra continues to be an important market for Malabar Gold & Diamonds. The company currently operates 34 showrooms across major cities in the state.
The expansion has strengthened the organised jewellery retail sector in the region while creating employment opportunities and expanding access to quality jewellery collections.
The group plans further growth in the state, targeting 64 stores in Maharashtra by 2029.
Commitment to Social Responsibility
Beyond business expansion, Mr. Ahammad has integrated a purpose-driven CSR and ESG model within the company. Since its inception, the group has committed 5 percent of profits towards social welfare initiatives, supporting programmes in education, healthcare, housing and women’s empowerment.
These initiatives have benefited communities across regions where the company operates.
Mr. Ahammad’s recognition with the Business Bhushan Award further reinforces his position as one of India’s prominent business leaders whose entrepreneurial vision and socially responsible leadership continue to influence the global jewellery industry.
