Srinagar, March 11: 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.
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, Devendra Fadvanis, and Deputy Chief Minister, Eknath Shinde of Maharashtra, Vijay Darda, Chairman of Lokmat alongside ministers, bureaucrats, and distinguished figures from across sectors.
Presented by Lokmat Media Group, the awards celebrate individuals whose vision, leadership, and achievements have significantly shaped industries while contributing meaningfully to society. Ahammad’s recognition highlights his remarkable entrepreneurial journey and the role he has played in building Malabar Gold & to become the 5th largest global jewellery retailer and the largest jewellery retailer of Indian origin.
Expressing his gratitude on receiving the honour, 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.”
Maharashtra has been central to the brand’s growth, with Malabar Gold & Diamonds expanding to 34 showrooms across major cities including Mumbai, Pune, Nagpur, and Nashik. This expanding footprint has generated employment, strengthened the organised jewellery retail ecosystem, and enhanced customer access to world‑class designs and services. His substantial contribution to the state earned him this honour, and reaffirming that commitment, the Group is on track to expand its network to 64 stores in Maharashtra by 2029.
Beyond business growth, 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.
