Latest news with #Ahammed
United News of India
3 days ago
- Business
- United News of India
Malabar Group allocates Rs 150 crore for CSR in 2025-26
New Delhi, May 28 (UNI) Malabar Group, one of India's leading business conglomerates and parent company of Malabar Gold & Diamonds, has announced a substantial allocation of Rs 150 crore for its Corporate Social Responsibility (CSR) programmes in the financial year 2025-26. The fund will be deployed to expand initiatives across healthcare, education, hunger and poverty alleviation, women empowerment, environment protection, and housing for the underprivileged. On World Hunger Day, the Group reaffirmed its commitment under the flagship 'Hunger Free World' project to distribute 70,000 meals daily across India and Zambia, amounting to a total of 2.5 crore meals in 2025-26. This marks a significant increase compared to the 2.5 crore meals served over the past three years since the programme's inception. The initiative aligns with the United Nations' Sustainable Development Goal 2 – Zero Hunger. Dr Amitabh Kant, former CEO of NITI Aayog and G-20 Sherpa, inaugurated the next phase of the Group's CSR activities. Present at the event were MP Ahammed, Chairman of Malabar Group; KP Abdul Salam, Vice Chairman; O Asher, Managing Director of India Operations; Group Executive Directors Nishad AK and KP Veerankutty; Group Director PA Abdulla Ibrahim; Dr Idrees V, Chairman of THANAL Daya Rehabilitation Trust; Jishad NK, Zonal Head – North, and other senior officials. Commenting on the initiative, Ahammed said, "At Malabar Group, CSR is an integral part of our culture and we believe in giving back to society. May 28 is dedicated as our annual CSR day, where we reaffirm our pledge to stand with the underserved through sustained and impactful action. "While we are doing our utmost, a greater impact can be achieved if more organisations join this mission. With 295 million people globally facing acute hunger as per UN data, immediate action is non-negotiable. Our Hunger Free World initiative reflects this urgency, focusing on meal distribution alongside efforts to boost food production, create jobs, and foster sustainable economic growth." Currently, the Hunger Free World project distributes over 60,000 nutrient-rich meals daily through 167 centres across 20 states in India. In Zambia, the Group partners with the government to serve 10,000 meals daily to students in three schools. The kitchens operate with modern equipment and are staffed by trained culinary and hygiene personnel. In addition to hunger alleviation, the Group's educational initiatives include 716 micro-learning centres providing primary education and nutrition to street children across India. Over 32,000 children have enrolled, with 9,000 integrated into formal schooling, in collaboration with THANAL. Scholarships have been awarded to 1,14,000 girls to support their education. The Group's 'Grandma Homes' initiative offers free shelter and care to destitute women, with operational centres in Bengaluru, Kerala, and Hyderabad, and plans to expand to Chennai, Kolkata, Delhi, and Mumbai. On healthcare, Malabar Group plans to establish non-profit medical stores offering subsidised medicines across 140 locations in Kerala, with 27 stores already operational. The 'Uyirppu Project' supports higher education for children affected by last year's Wayanad landslide, providing financial aid to 134 students. Since inception, Malabar Gold & Diamonds has consistently allocated 5% of its profits towards social welfare programmes. UNI BDN GNK
India Gazette
3 days ago
- Business
- India Gazette
Customers shifting to 18-carat jewellery from 22-carat as gold rates rise: Malabar Gold
New Delhi [India], May 28 (ANI): There has been a shift in preference by gold jewellery buyers with the rising prices of the yellow metal. Talking to reporters on Wednesday in the national capital, O Asher, Managing Director of Indian operations for Malabar Gold and Diamonds, said, rising gold prices are driving customers to shift from 22-carat to 18-carat jewelry. While the overall value of gold jewellery sales has increased, the per-customer volume has declined, he said. 'We are creating lighter-weight jewelry while maintaining the same designs to keep pieces within our customers' budgets,' Asher explained. 'If someone has a budget of one lakh rupees, they cannot increase it, so we've adapted our strategy. By keeping designs identical but reducing weight slightly, we ensure customers' aspirations aren't compromised,' Asher added. 'In some regions, we have observed customers transitioning from 22-carat to 18-carat jewelry.' Publicly available data showed that international gold prices rose at an unprecedented pace in 2025, soaring over 25 per cent. Over the past year, they have risen about 45 per cent. Analysts say that buyers are staying away from purchasing gold jewellery or investing in the metal, owing to an unexpected rise in prices. Gold prices, both in India and worldwide, are trading at their all-time highs or nearabout, due to its safe-haven appeal amidst ongoing trade uncertainties. The uncertainties surrounding Trump's reciprocal tariffs plan and counter-tariffs also came as a shot in the arm to international gold prices. Coming back to Asher, asked about the Federation of Indian Export Organisations' (FIEO) projections of USD 1 trillion in exports in 2025-26, he emphasized the target was reachable. 'Our focus is to manufacture in India and market to the world. We operate in 13 countries, and if businesses work in line with our Prime Minister's vision, I am 100 percent confident we will achieve the USD 1 trillion export target.' Today, MP Ahammed, Chairman of Malabar Group, has provided insights on market conditions. 'Gold prices remain unpredictable, with no clear indication of future direction. However, recent surges stem from US President Donald Trump's tariff policies and ongoing geopolitical tensions. Rising jewelry prices actually boost consumer confidence, as we've witnessed consistent price appreciation over the past 25-30 years,' Ahammed said. Gold has become a preferred global reserve asset, with governments and central banks worldwide increasing their holdings. The share of gold maintained by the Reserve Bank of India (RBI) in its foreign exchange reserves has almost doubled since 2021. According to a report on Management of Foreign Exchange Reserves by the Indian central bank, the gold share in forex kitty, in dollar terms, rose from 5.87 per cent in March 2021 to 11.70 per cent in March 2025. In September 2024, the gold's share was at 9.32 per cent. Historically, gold, as an asset, is considered to be a haven as it typically manages to retain or appreciate its underlying value in times of turbulence. (ANI)
Mint
3 days ago
- Business
- Mint
Malabar Gold & Diamonds weighs entry into lab-grown diamond segment
New Delhi: Malabar Gold & Diamonds is exploring an entry into the lab-grown diamond market with a distinct branding strategy, joining a small but growing list of large jewellery retailers eyeing the nascent segment. The company is studying consumer interest in lab-grown diamonds and evaluating how best to position its offering, said M.P. Ahammed, chairman of the Kerala-headquartered group. 'We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different. We will formalize something,' he said on the sidelines of a press conference in Delhi. Malabar has not yet set a timeline for its venture. 'Malabar is always open to understanding customer needs. Lab-grown is definitely in the market…We are still doing the research and understanding whether consumers like it. We don't want to do anything with a short-term view,' added O. Asher, managing director. If it moves ahead, Malabar would be among the few national jewellery chains in India to enter this space. Last year, Senco Gold Ltd began piloting lab-grown diamonds under a sub-brand called Sennes. India's overall diamond market is estimated at $6.2 billion in FY25, with lab-grown diamonds accounting for just $0.4 billion, according to Wazir Advisors. Both segments are expected to grow, with natural diamonds projected to reach $8.6 billion and lab-grown $0.6 billion by FY28. While India and China have emerged as major producers of lab-grown diamonds, retail adoption in both markets has been slow, executives said. Lab-grown diamonds are typically priced at a significant discount to natural ones and have found takers among a mix of jewellery startups and traditional family-run jewellers looking to diversify. Malabar, which primarily caters to the wedding segment with gold jewellery as its mainstay, also retails solitaires and engagement rings. The company operates over 390 stores across 13 countries and reported an annual turnover of $6.2 billion calendar year 2024. The company is also responding to the impact of high gold prices, which have weighed on consumer demand. In April, gold touched a high of ₹ 96,875 per 10 grams, prompting a visible correction in volumes, as per industry executives. 'Consumers with a budget of ₹ 1 lakh cannot increase their spending, so we have seen a correction in volumes,' Asher said. 'We are trying to take more market share by coming up with different programmes and categories of products. We are also offering jewellery in various carats.' 'Due to a jump in gold prices, consumers with a budget of Rs1 lakh cannot increase their budget, so we have seen a correction in volumes. What we are able to do—we are trying to take more market share by coming up with different programs and different categories of products. We are also coming in various carats (of gold). So it's a different business plan we are coming up with so consumers can still afford gold jewellery," he said. Malabar plans to introduce more 18-carat and 14-carat designs to offer value-conscious customers more options, mirroring a shift seen across the organised jewellery sector. 'We are trying to explore a little bit in 18 karat,' Asher added. 'We have come up with various innovations to reduce the budget without reducing the look.' The company aims to open at least 50 new stores in India this fiscal as it expands its retail footprint.
Time of India
30-04-2025
- Business
- Time of India
Record high gold prices hit buyers but ETFs find favour
HYDERABAD/MUMBAI: The current high prices of gold led to lukewarm demand for the yellow metal on Akshaya Tritiya , despite jewellers offering various schemes like slashing making charges for jewellery and offering gold jewellery as prizes for lucky buyers. The demand for gold exchange-traded funds (ETFs), however, jumped on both the exchanges on Wednesday. Earlier in April, the price of the precious metal rose above the Rs 1 lakh/10gm level, an all-time record. On Wednesday, the price in retail markets around the country hovered between Rs 94,000 and Rs 95,000. Across India, jewellers designed schemes and offers for consumers to soften the blow of steep gold prices and encourage more customers to shop. For example, Malabar Group offered up to 25% off on making charges of gold jewellery and studded jewellery. The company also had an advanced booking facility in place, which allowed customers rate protection by enabling them to book jewellery with a minimum down payment of 10% of the total value and pay the rest based on the booked rate or the prevailing market rate-whichever was lower, said chairman MP Ahammed. Some of the purchases were driven by investment-based needs and the growing desire to hedge against further price rises, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo According to Darshan Gupta, partner at Mangatrai Jewellers in Hyderabad, the mood among gold buyers was 'lukewarm'. Gupta, who has been trying to woo customers with offers like 'no making charges', said despite all their efforts, the sentiment to buy was lacking. "Business is expected to be at least 30% lower than last year's Akshaya Tritiya," he said. Although business in terms of volume was lower than last year, in terms of value it was almost similar, according to data from the India Bullion & Jewellers Association. Approximately 20 tonnes of gold worth Rs 18,000 crore was sold across the country during the day. In the Mumbai market alone, about 2.5 tonnes of gold worth about Rs 2,350 crore is estimated to have been sold. Rising gold prices also pushed consumers to opt for more pocket-friendly options. PC Chandra Jewellers, for instance, saw more customers queuing up for lightweight gold jewellery and silver. Some diamond pieces, too, found favour with customers. The demand for ETFs showed good traction on the bourses. On the NSE, ETFs worth about Rs 340 crore were traded, while on the BSE the corresponding number was nearly Rs 30 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Khaleej Times
04-04-2025
- Business
- Khaleej Times
Malabar Group launches ‘Uyirp' Scheme for landslide victims in Wayanad, Kerala
Malabar Group, a leading Indian business conglomerate and the parent company of Malabar Gold and Diamonds, has launched the 'Uyirp' initiative aimed at supporting the higher education of children from families affected by last year's landslide in Wayanad. This initiative aims to provide financial assistance to 134 students from the affected areas, ensuring they can pursue their education without financial hardship. The 'Uyirp' project was inaugurated by Priyanka Gandhi, member of parliament, in the presence of several distinguished guests. T Siddique, MLA, presided over the function. Malabar Group chairman MP Ahammed delivered the keynote address. 'Missile Woman of India' Dr Tessie Thomas was the chief guest. Malabar Group has allocated over $233,000 for the 'Uyirp' initiative, of which $73,000 has already been disbursed. The financial aid will cover all education-related expenses, including course fees, hostel fees, study materials, examination fees, and travel costs. Additionally, any outstanding fees from previously pursued courses will also be paid by the company. To further ensure the future of these students, Malabar Group has committed to giving them priority employment within its businesses. A dedicated placement cell is being formed to help them secure jobs in other organizations as well, and a finishing school is being set up to provide necessary training for their career growth. Among the selected students, 70 are girls and 64 are boys, pursuing a variety of academic disciplines. The distribution of students across different fields includes 26 in medical courses, 17 in IT-related fields, 24 in science disciplines, 27 in commerce, 26 in humanities, and others in aviation, engineering, and teaching. The initiative is being implemented in collaboration with T Siddique MLA's 'MLA Care' project. Speaking about the initiative, Ahammed, chairman of Malabar Group said, "Nothing can replace the pain of those who lost everything in the disaster, but we are committed to supporting them. The 'Uyirp' initiative is our effort to help these children build a bright future. As a business, we believe in giving back to society, and this initiative reflects our responsibility toward the community." A cornerstone of Malabar Group's corporate social responsibility initiatives is the 'Hunger Free World' project, which aims to alleviate hunger by providing nutritious meals to the impoverished. Currently, the initiative distributes food packets to 60,000 individuals daily across 81 cities in 17 Indian states. Additionally, 10,000 food packets are distributed daily to schoolchildren in Zambia, Africa. To date, Malabar Group has invested over $33 million in various CSR activities. Additionally, as part of the Malabar Group's ongoing Hunger Free World initiative, 581 micro learning centers have been established across India to provide basic education to street children and facilitate their transition into formal schooling. So far, 25,800 children have been enrolled in these centres, where they receive one year of foundational education to help them return to or begin formal education. Children who graduate high school will receive support for higher studies on campuses across various states, with additional scholarships available to girls as part of the Group's commitment to women's empowerment. The inauguration ceremony was attended by former MLA and Rajya Sabha member MV Shreyams Kumar; former minister and MLA AP Anil Kumar; IC Balakrishnan MLA; Wayanad District Panchayat President Shamshad Marakkar; municipal chairman Adv TJ Isaac; Kalpetta Block Panchayat president Chandrika Krishnan; Meppadi Panchayat president K Babu; standing committee chairman Mujeeb Keyamthodi; Malabar Group executive director AK Nishad; head of retail operations R Abdul Jaleel; head of solidarity and operations Abdul Yashir Adiraja; and others.
