Mumbai, March 11 — 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.
The recognition was presented at a ceremony held at the Gateway of India in Mumbai in the presence of Maharashtra Chief Minister Sri. Devendra Fadnavis and Deputy Chief Minister Sri. Eknath Shinde. Sri. Vijay Darda, Chairman of Lokmat, was also present along with ministers, bureaucrats and leaders from business and entertainment.
The awards recognise individuals whose work and leadership have made a notable impact across industries while contributing to social progress.
Mr. Ahammad was recognised for building Malabar Gold & Diamonds into a global jewellery retail brand and strengthening organised jewellery retail.
Founded in 1993, the company currently operates 425 showrooms across 14 countries and ranks as the world’s 5th largest jewellery retailer.
Reacting to the recognition, Mr. 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.”
The group has also integrated social responsibility into its business model by allocating 5% of its profits to initiatives related to education, healthcare, housing and women’s empowerment.
Maharashtra continues to be an important market for the brand with 34 showrooms currently operating in the state. The company plans to expand this network to 64 stores by 2029.
