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 leadership in shaping the global jewellery retail industry and his contributions to society.
The award ceremony was held at the iconic Gateway of India in Mumbai and was attended by Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister EknathShinde, along with Lokmat Chairman Vijay Darda, ministers, bureaucrats, industry leaders and prominent personalities from business and entertainment.
Presented by the Lokmat Media Group, the awards honour individuals whose vision, leadership and achievements have significantly influenced industries while contributing meaningfully to society. Ahammad’s recognition highlights his entrepreneurial journey and his role in building Malabar Gold & Diamonds into the world’s fifth-largest jewellery retailer and the largest jewellery retailer of Indian origin.
Expressing gratitude, Ahammad said the honour reflects the collective dedication of the Malabar family and the trust customers have placed in the brand over the years. He emphasised that the group remains committed to responsible growth, integrity and creating lasting value for society.
Maharashtra has been central to Malabar’s expansion, with 34 showrooms operating across cities such as Mumbai, Pune, Nagpur and Nashik. The group plans to expand its network in the state to 64 stores by 2029, further strengthening the organised jewellery retail ecosystem and generating employment.
Founded in 1993, Malabar Gold & Diamonds currently operates more than 425 showrooms across 14 countries and records an annual turnover of $7.36 billion. The group also allocates five percent of its profits to CSR initiatives focused on education, healthcare, housing support, hunger eradication, environmental protection and women’s empowerment.
