M.P. Ahammad, Chairman of Malabar Group, has received the Business Bhushan Award at the Lokmat Maharashtrian of the Year Awards 2026. The award was presented at a ceremony held at the Gateway of India in Mumbai.

The recognition was conferred by Maharashtra Chief Minister Devendra Fadnavis in the presence of Deputy Chief Minister Eknath Shinde and Lokmat Media Group Chairman Vijay Darda. The event was attended by policymakers, industry representatives, and personalities from business and entertainment.

The awards, presented by Lokmat Media Group, recognise individuals for their contributions to business and society. Ahammad was recognized for his role in building Malabar Gold & Diamonds into one of the largest jewellery retail networks globally and the largest jewellery retailer of Indian origin.

Accepting the award, Ahammad 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.”

Founded in 1993, Malabar Gold & Diamonds operates 425 showrooms across 14 countries and has integrated operations across design, manufacturing and retail. The company has also expanded its retail presence in Maharashtra with 34 showrooms across major cities.

According to the company, it plans to increase its footprint in the state to 64 stores by 2029. The group also allocates 5% of its profits to CSR initiatives focused on education, healthcare, housing support and women’s empowerment.