Mumbai: 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, recognising his visionary leadership and contributions to the global jewellery retail industry.

The prestigious award was presented by Devendra Fadnavis, Chief Minister of Maharashtra, during a grand ceremony held at the iconic Gateway of India in Mumbai.

The event was attended by Eknath Shinde, Deputy Chief Minister of Maharashtra, along with Vijay Darda, Chairman of Lokmat Media Group, ministers, senior bureaucrats, industry leaders, and prominent personalities from business and entertainment.

Recognition for visionary leadership

The Lokmat Maharashtrian of the Year Awards celebrate individuals whose vision, leadership, and achievements have significantly shaped industries while making meaningful contributions to society.

M. P. Ahammad’s recognition highlights his entrepreneurial journey in building Malabar Gold & Diamonds into one of the world’s largest jewellery retail brands.

Under his leadership, the company has grown to become the fifth-largest jewellery retailer globally and the largest jewellery retailer of Indian origin, expanding its presence across multiple international markets.

Commitment to growth and values

Expressing his gratitude on receiving the honour, Ahammad said the recognition reflected the dedication of the entire Malabar team and the trust placed in the brand by its customers.

“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,” he said.

He added that the company’s growth journey has been guided by the principles of responsibility, integrity, and collective progress, with a focus on creating lasting value for society.

Expanding global presence

Founded in 1993, Malabar Gold & Diamonds has played a significant role in transforming the jewellery retail sector by emphasising transparency, responsible business practices, and customer-centric innovation.

Today, the brand operates over 425 showrooms across 14 countries, supported by design centres, manufacturing facilities, and offices across India, the Middle East, the Far East, the United States, the United Kingdom, Canada, Australia, and New Zealand.

The company also employs more than 30,000 professionals from over 26 countries, reflecting its global reach and diverse workforce.

Strong presence in Maharashtra

Maharashtra continues to be a key market for Malabar Gold & Diamonds, where the brand currently operates 34 showrooms across major cities.

This expansion has contributed to employment generation and strengthened the organised jewellery retail ecosystem in the state.

The group has announced plans to further expand its footprint in Maharashtra, targeting 64 showrooms by 2029, reinforcing its long-term commitment to the region.

Focus on social responsibility

Beyond business growth, Ahammad has championed a purpose-driven approach by embedding Environmental, Social, and Governance (ESG) principles into the company’s operations.

Since its inception, the Malabar Group has allocated five per cent of its profits to social responsibility initiatives, focusing on areas such as education, healthcare, housing support, hunger eradication, environmental protection, and women’s empowerment.

These initiatives have benefitted communities across multiple regions where the group operates.

The recognition of M. P. Ahammad with the Business Bhushan Award further strengthens his reputation as one of India’s respected business leaders whose vision, entrepreneurial spirit, and values-driven leadership continue to inspire future generations of global enterprises.