M.P. Ahammad, Chairman of Malabar Group, was conferred the prestigious Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026 for his leadership in transforming the global jewellery retail industry and contributing to society. The award was presented at a ceremony held at the iconic Gateway of India in Mumbai. The event brought together policymakers, industry leaders and prominent 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 recognise individuals whose leadership and achievements have made a significant impact across industries and society. Ahammad’s recognition highlights his entrepreneurial journey and his role in building Malabar Gold & Diamonds into the world’s fifth-largest jewellery retailer and the largest jewellery retailer of Indian origin. Expressing gratitude, Ahammad said the recognition reflects the dedication of the entire Malabar team and the trust customers have placed in the brand. He added that the group remains committed to responsible growth, integrity and creating lasting value for society.
Maharashtra has played a key role in the company’s growth, with 34 showrooms operating across cities including Mumbai, Pune, Nagpur and Nashik. The group plans to expand its presence in the state to 64 stores by 2029. Founded in 1993, Malabar Gold & Diamonds currently operates more than 425 showrooms across 14 countries and contributes five percent of its profits to CSR initiatives focused on education, healthcare, housing support and women’s empowerment.