Mumbai, March 11, 2026 — Mr. M.P. Ahammad, Chairman of Malabar Group, has been conferred the Business Bhushan Award at the Maharashtrian of the Year Awards 2026, in recognition of his leadership and contribution to the global jewellery retail industry.
The award was presented during 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. The event was also attended by Sri. Vijay Darda, Chairman of Lokmat, along with ministers, bureaucrats, industry leaders and personalities from various sectors.
Presented by the Lokmat Media Group, the awards recognise individuals whose leadership and achievements have made a significant impact across industries while contributing to society.
Mr. Ahammad was recognised for his role in building Malabar Gold & Diamonds into the world’s 5th largest 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 built a strong presence in organised jewellery retail while focusing on transparency and responsible business practices.
The company currently operates 425 showrooms across 14 countries and continues to expand its footprint globally.
Maharashtra remains a key market for the company with 34 showrooms across major cities. The group has announced plans to expand this network to 64 stores in the state by 2029.
Beyond business growth, the group contributes 5% of its profits to CSR initiatives focusing on education, healthcare, housing support and women’s empowerment.