Mr. M.P. Ahammad, Chairman, Malabar Group, has been honoured with the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, in recognition of his visionary leadership and pivotal role in transforming the global jewellery retail landscape and society at large.
Deputy CM Maharashtra-Eknath Shinde, Chairman-M.P. Ahammad, Malabar Group, CM Maharashtra-Devendra Fadnavis, MD-India, Asher O, Malabar Gold & Diamonds
Held at the iconic Gateway of India, the awards ceremony brought together leading policymakers, industry leaders, and prominent personalities from business and entertainment. The event was attended by the Chief Minister, Sri. Devendra Fadvanis, and Deputy Chief Minister, Sri. Eknath Shinde of Maharashtra, alongside Mr. Asher O, MD-India Operations, Malabar Gold & Diamonds, other ministers, bureaucrats, and distinguished figures from across sectors.
The awards celebrate individuals whose vision, leadership, and achievements have significantly shaped industries while contributing meaningfully to society. Mr. Ahammad’s recognition highlights his remarkable entrepreneurial journey and the role he has played in building Malabar Gold & Diamonds to become the 5th largest global jewellery retailer and the largest jewellery retailer of Indian origin.
Expressing his gratitude on receiving the honour, Mr. M.P. Ahammad, Chairman, 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 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 & Diamonds has been a pioneer in fostering responsible and transparent jewellery retail, contributing significantly to employment generation, strengthening the organised retail ecosystem, and enhancing customer experience through access to world‑class designs and services.
Today, the brand stands as a true flag bearer of India, showcasing the nation’s craft and soul to the world through its 425 showrooms across 14 countries. The brand has reimagined the jewellery industry by integrating the entire value chain, from design and manufacturing to retail and beyond.
Maharashtra remains a key market for Malabar Gold & Diamonds, now with 34 showrooms across major cities. This growth has boosted employment, strengthened the organised jewellery ecosystem, and improved access to quality designs. His substantial contribution to the state earned him this honour, and the Group is committed to further expansion, targeting 64 stores in Maharashtra by 2029.
Beyond business growth, Mr. Ahammad advanced a purpose‑driven model by embedding CSR/ESG commitments into the company since inception, consistently contributing 5% of profits to education, healthcare, housing support and women’s empowerment programmes, benefiting the society across regions of operations.
His recognition with the Business Bhushan Award further reinforces his stature as one of India’s most respected business leaders whose entrepreneurial vision and values-driven leadership serve as an inspiration and a blueprint for collective progress for future global enterprises.
Malabar Gold & Diamonds
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.
The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
Mojawhraty by Malabar is the latest retail concept from the brand, exclusively catering to Arabic audience globally. Mojawhraty blends Arabic tradition with modern elegance.
ESG (Environmental, Social & Governance) has been the primary commitment of the group since its inception. The key ESG focus area of Malabar Group are Health, Housing, Hunger Free World, Education, Environment and Women empowerment. Integrating the principles of responsibility and sustainability into its core business, Malabar Group periodically strengthens its ESG goals to remain a socially conscious and responsible organization. The group contributes 5% of its profit to such initiatives in the same country of operation.
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