11th March, Mumbai: Mr. M.P. Ahammad, Chairman of Malabar Group, has been honoured with the Business Bhushan Award at the Maharashtrian of the Year Awards 2026.
The award ceremony was held at the Gateway of India and attended by Maharashtra Chief Minister Sri. Devendra Fadnavis and Deputy Chief Minister Sri. Eknath Shinde. Sri. Vijay Darda, Chairman of Lokmat, was also present along with policymakers, industry leaders and prominent personalities.
The awards, by a prominent Media Group, recognise individuals whose work and leadership have significantly contributed to industry and society.
Mr. Ahammad was recognised for his contribution to the jewellery retail sector and for building Malabar Gold & Diamonds into the world’s 5th largest jewellery retailer and the largest jewellery retailer of Indian origin.
Responding to the honour, Mr. Ahammad said, “I am deeply honoured to receive the Business Bhushan award at Lokmat’s 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.”
Established in 1993, Malabar Gold & Diamonds now operates 425 showrooms across 14 countries.
Maharashtra has emerged as a significant market for the brand, which currently operates 34 showrooms in the state. The company aims to increase this number to 64 stores by 2029.
The group also contributes 5% of its profits to social responsibility initiatives including education, healthcare, housing support and women’s empowerment programmes.
