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Malabar Group unveils CSR initiatives, marks 20th anniversary
Malabar Group, a leading gold and diamond jewellery retailer in India and the Gulf, has announced a series of corporate social responsibility projects to mark the its 20th anniversary.
Chief Minister of Kerala Oommen Chandy unveiled the group’s CSR policy at a ceremony attended by Malabar Group’s Brand Ambassador Mohanlal, several state ministers and dignitaries, said M P Ahamad, Chairman of the group.
Kerala Chief Minister Oommen Chandy with Malabar Group’s brand ambassador Mohanlal, the group’s chairman M P Ahamad and other guests at the ceremony. — Supplied photo
“On this occasion of the 20th anniversary celebrations, while ensuring a reasonable income for investors and a decent remuneration for management members, we are concerned about a large segment of people who are incapable of buying even one gram of gold. That is the reason why we have decided to allocate10 per cent of our profits for the benefit of these people,” Ahamad said.
The group announced several projects including houses for the homeless, environment conservation, women empowerment as well as programmes to improve the medical and educational sectors.
“Our aim is to become one of the best socially responsible and value based groups in the world within the next five years. We dream of becoming the world’s best Indian jewellery brand that makes available value added gift articles in the form of gold, diamond and platinum ornaments. Accordingly, we are planning to open in August, our 100th showroom in Kolkata,” he said.
Shamlal Ahamad, managing director, International Operation of Malabar Gold and Diamonds, said the Group, consisting of nearly 1600 investors and 6000 management members, operates nearly 110 entities in India and abroad in the fields of jewellery, infrastructure as well as the domestic and commercial building sectors.
In 2012, the group, one of the fastest growing gold and diamonds retail chains in the Middle East, said it was embarking on a $700 million investment drive that would enable it nearly treble its annual turnover to $6 billion in four years.
— issacjohn@khaleejtimes.com
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