M.P. Ahammad, Chairman of Malabar Group, has been honoured with the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026, recognising his inspiring entrepreneurial journey and his role in shaping the global jewellery retail industry.
The award ceremony was held at the iconic Gateway of India in Mumbai and brought together leading policymakers, industry leaders and personalities from business and entertainment. Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde were present at the event along with Lokmat Chairman Vijay Darda, ministers, bureaucrats and other distinguished guests.
Presented by the Lokmat Media Group, the awards celebrate individuals whose leadership and achievements have made a significant impact on industries and society. Ahammad’s recognition highlights how Malabar Gold & Diamonds grew from an Indian jewellery brand into the world’s fifth-largest jewellery retailer and the largest jewellery retailer of Indian origin.
Expressing his gratitude, Ahammad said the honour reflects the collective dedication of the entire Malabar family and the trust customers have placed in the brand over the years. He added that the company’s journey has been guided by responsibility, integrity and a commitment to creating lasting value for society.
Maharashtra has played a key role in the brand’s growth, with Malabar Gold & Diamonds operating 34 showrooms across cities including Mumbai, Pune, Nagpur and Nashik. The group plans to expand its presence to 64 stores in the state by 2029.
Established in 1993, Malabar Gold & Diamonds now operates more than 425 showrooms across 14 countries with an annual turnover of $7.36 billion. The group also contributes five percent of its profits to social initiatives focusing on education, healthcare, housing support and women’s empowerment.
