Mumbai : 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 grand awards ceremony was held at the iconic Gateway of India in Mumbai and brought together prominent policymakers, industry leaders and personalities from the business and entertainment sectors. The event was attended by Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde, along with Lokmat Chairman Vijay Darda, senior ministers, bureaucrats and other distinguished guests.
Organised by the Lokmat Media Group, the awards celebrate individuals whose vision, leadership and achievements have made a lasting impact on industries while contributing meaningfully to society. Mr. Ahammad’s recognition highlights his extraordinary entrepreneurial journey and his pivotal role in building Malabar Gold & Diamonds into the world’s fifth-largest jewellery retailer and the largest jewellery retailer of Indian origin.
Expressing his gratitude, M. P. Ahammad, Chairman of 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 for 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 emerged as a pioneer in responsible and transparent jewellery retail. The company has played a significant role in employment generation, strengthening the organised retail ecosystem and enhancing customer experience through world-class designs and services.
Today, the brand stands as a global ambassador of Indian craftsmanship, operating 425 showrooms across 14 countries. Malabar has redefined the jewellery industry by integrating the entire value chain—from design and manufacturing to retail and customer experience.
Maharashtra remains a key market for the brand, with 34 showrooms across major cities in the state. The expansion has generated employment opportunities, strengthened the organised jewellery sector and improved customer access to quality designs. In recognition of his substantial contribution to the state’s business ecosystem, Mr. Ahammad was honoured with the Business Bhushan Award. The Group is now targeting 64 showrooms in Maharashtra by 2029 as part of its continued expansion plans.
Beyond business growth, Mr. Ahammad has championed a purpose-driven business model, embedding CSR and ESG initiatives into the company’s core philosophy since its inception. Malabar Group consistently allocates 5% of its profits to social initiatives in education, healthcare, housing support and women’s empowerment, benefiting communities across its regions of operation.
This recognition further strengthens Ahammad’s stature as one of India’s most respected business leaders, whose visionary entrepreneurship and values-driven leadership continue to inspire future global enterprises.
