Written by Intern Rency Gomes || Team Allycaral
M.P. Ahammad, Chairman of the Malabar Group, has been honoured with the Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026 in recognition of his leadership and contribution to the global jewellery retail industry.
The award ceremony was held at the Gateway of India in Mumbai and brought together 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 the Lokmat Media Group.
Presented by Lokmat Media Group, the awards recognise individuals whose vision, leadership and achievements have significantly influenced industries while contributing meaningfully to society.
Expressing his gratitude, Ahammad said the recognition reflected the dedication of the entire Malabar team and the trust placed in the brand by customers over the years. He noted that the company’s journey has been guided by values of responsibility, integrity and collective growth while creating lasting value for society.
Founded in 1993, Malabar Gold & Diamonds has grown into the world’s fifth-largest jewellery retailer and the largest jewellery retailer of Indian origin. The brand currently operates more than 425 showrooms across 14 countries.
Maharashtra continues to be a key market for the company, with 34 showrooms across major cities in the state. The group plans to further expand its presence, targeting 64 stores in Maharashtra by 2029.
Beyond business growth, the company has also focused on corporate social responsibility and environmental, social and governance initiatives. The group contributes five percent of its profits to social causes including education, healthcare, housing support and women’s empowerment programmes in the regions where it operates.
The recognition further highlights Ahammad’s role in shaping one of India’s most prominent global retail brands while promoting responsible business practices and social development.
Discover more from Allycaral
Subscribe to get the latest posts sent to your email.
