Mumbai honour puts spotlight on M. P. Ahammad’s leadership at Malabar Group

The Malabar Group Chairman was honoured with the Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026 in Mumbai, where his leadership in expanding Malabar Gold and Diamonds and the group’s long running social commitments were brought into focus.

Mumbai, 11 March 2026: Leadership, retail expansion, and social commitment came into focus in Mumbai as M. P. Ahammad, Chairman of Malabar Group, was honoured with the Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026.
The awards ceremony, held at the Gateway of India, brought together policymakers, business leaders, and public figures from across sectors. Among those present were Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, and Vijay Darda, Chairman of Lokmat, along with ministers, bureaucrats, and other distinguished guests.

Presented by Lokmat Media Group, the awards recognise individuals whose leadership and achievements have left a visible mark on industry and society. In Ahammad’s case, the recognition highlighted his role in building Malabar Gold and Diamonds into the fifth largest jewellery retailer globally and the largest jewellery retailer of Indian origin.
Responding to the recognition, M. P. Ahammad 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 and Diamonds has grown into a major international jewellery retail business with 425 showrooms across 14 countries. The group said its growth has been built on organised retail expansion, integrated operations across design, manufacturing, and sales, and an emphasis on customer access to designs and services across markets.
Maharashtra remains an important market for the company, where it currently operates 34 showrooms across major cities. The group said this expansion has contributed to employment generation, wider access to organised jewellery retail, and a stronger presence in the state. It has also outlined a plan to grow to 64 stores in Maharashtra by 2029.

Alongside business growth, the company said it has followed a purpose led model since inception, contributing 5 percent of profits to social responsibility initiatives focused on education, healthcare, housing support, and women’s empowerment across its regions of operation.
The recognition in Mumbai places fresh attention on Ahammad’s role in shaping Malabar Group’s business growth while linking expansion with long term commitments beyond retail.

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