New Delhi, Delhi, 12th of March, 2026 : 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 visionary leadership and immense contribution to the global jewellery retail industry. The honour was presented by Maharashtra Chief Minister Devendra Fadnavis.
The grand ceremony was held at the historic Gateway of India in Mumbai, bringing together leading personalities from politics, business, and the entertainment industry. The event was attended by Maharashtra Deputy Chief Minister Eknath Shinde, Lokmat Chairman Vijay Darda, along with ministers, senior bureaucrats, and several distinguished guests from various sectors.
Organised by Lokmat Media Group, the awards celebrate individuals whose vision, leadership, and achievements have significantly shaped industries while making meaningful contributions to society. M.P. Ahammad was recognised for his outstanding leadership in the jewellery retajtil sector and for strengthening the global presence of an Indian-origin brand. Under his leadership, Malabar Gold & Diamonds has grown to become the fifth-largest jewellery retail chain in the world and the largest jewellery retailer of Indian origin.
Expressing his gratitude after receiving the award, Ahammad said the recognition belongs to the entire Malabar family and the trust of its customers.
“This honour at the Lokmat Maharashtrian of the Year Awards is truly special for me. It reflects the dedication of the entire Malabar family and the trust our customers have placed in us. Our journey has always been guided by responsibility, integrity, and a commitment to creating lasting value for society while striving for excellence,” he said. Maharashtra has emerged as a key market for Malabar Gold & Diamonds.
showrooms across major cities including Mumbai, Pune, Nagpur, and Nashik. This growing presence has not only strengthened the organised jewellery retail ecosystem but also generated significant employment opportunities in the state. The company plans to further expand its footprint and aims to increase the number of stores in Maharashtra to 64 by 2029.
Beyond business success, M.P. Ahammad is widely recognised for his strong commitment to social responsibility. Since its inception, Malabar Group has embedded Corporate Social Responsibility (CSR) and ESG principles into its core operations.
The group dedicates 5% of its annual profits to social welfare initiatives, including programmes in education, healthcare, housing support, and women’s empowerment, benefiting thousands of people across regions where it operates. The Business Bhushan award further reinforces M.P. Ahammad’s stature as one of India’s most respected business leaders. His journey continues to inspire aspiring entrepreneurs and demonstrates how visionary leadership combined with strong values can build globally respected enterprises.
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