Chennai: 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 his transformative role in the global jewellery retail industry as well as his contributions to society.
The award was presented at a grand ceremony held at the iconic Gateway of India. M P Ahammad received the honour in the presence of Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde.
The event also saw the participation of Vijay Darda, along with ministers, bureaucrats, industry leaders, and prominent personalities from the business and entertainment sectors.
Presented by Lokmat Media Group, the Lokmat Maharashtrian of the Year Awards celebrate individuals whose leadership, innovation, and achievements have significantly influenced industries while contributing meaningfully to society.
The recognition of M P Ahammad underscores his remarkable entrepreneurial journey and the role he has played in building Malabar Gold & Diamonds into one of the world’s leading jewellery retail brands.
Under the leadership of M P Ahammad, Malabar Gold & Diamonds has grown into the fifth-largest global jewellery retailer and the largest jewellery retailer of Indian origin, establishing a strong international presence while promoting Indian craftsmanship across global markets.
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.”
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Long-Term Growth Strategy Envisioned by M P Ahammad
Founded in 1993, Malabar Gold & Diamonds has been a pioneer in promoting responsible and transparent jewellery retail. Under the guidance of M P Ahammad, the brand has played a key role in generating employment, strengthening the organised jewellery retail ecosystem, and enhancing customer experience through access to world-class designs and services.
Today, the company operates 425 showrooms across 14 countries, positioning itself as a global ambassador of Indian jewellery craftsmanship.
Through an integrated business model that spans design, manufacturing, and retail, M P Ahammad has led the transformation of the jewellery retail industry while strengthening the brand’s global footprint.
Maharashtra continues to be a key market for the company. With 34 showrooms currently operating across major cities in the state, M P Ahammad has driven significant expansion in the region.
This growth has contributed to job creation, improved access to high-quality jewellery designs, and further strengthened the organised jewellery ecosystem.
Looking ahead, the company plans to accelerate its expansion in the state, with a target of 64 stores in Maharashtra by 2029, reinforcing the long-term growth strategy envisioned by M P Ahammad.
Beyond business growth, M P Ahammad has championed a purpose-driven business model by embedding strong CSR and ESG commitments within the organisation. Since its inception, the group has consistently allocated 5% of its profits to social initiatives, supporting programmes in education, healthcare, housing assistance, and women’s empowerment across the regions where it operates.
The Business Bhushan recognition further reinforces the stature of M P Ahammad as one of India’s most respected business leaders, whose entrepreneurial vision and values-driven leadership continue to inspire future global enterprises while contributing to inclusive and sustainable growth.
