NewsVoir
Mumbai (Maharashtra) [India], September 30: Malabar Group, a leading diversified Indian business conglomerate – the parent company of Malabar Gold & Diamonds, announced its National Scholarship Programme for 2024 at an event at Bharat Diamond Bourse, BKC, Mumbai. This announcement marks a significant milestone in the Group’s flagship CSR initiative, the Malabar National Scholarship Programme, which underscores its commitment to supporting girls’ education. The event was inaugurated by Piyush Goyal, Minister of Commerce & Industry. The Group’s top leadership, including MP Ahammed, (Chairman – Malabar Group), Asher O (MD – India operations – Malabar Group, Abdul Salam K P (Vice-Chairman – Malabar Group), Nishad AK (Executive Director, Malabar Group) and Shaunak Parikh (Director, Mahendra Brothers) were also present at the event. This year, the scholarship programme has allocated Rs. 16 crore to support the education of over 21,000 girl students across India.
Speaking about the initiative, MP Ahammed, Chairman, Malabar Group, said, “Education is the most powerful tool to change the world. Our scholarship programme is a direct reflection of Malabar Group’s deep-rooted belief that education unlocks opportunities and transforms lives. We are committed to removing barriers for young girls so they can fulfil their educational aspirations and contribute meaningfully to society.”
Since its inception, Malabar Group has demonstrated a strong commitment to inclusive growth through its social welfare activities. In 1999, the Malabar Charitable Trust (MCT) was created to structure and expand these efforts. The group allocates 5% of its profits to CSR initiatives, which span education, healthcare, environmental sustainability, and poverty alleviation, with a particular focus on empowering marginalized communities.
The Malabar National Scholarship Programme, launched in 2007, stands as a flagship initiative under its CSR framework. To date, over Rs. 60 crore has been invested in the programme, providing financial aid to more than 95,000 girl students across India. By focusing on girls’ education, Malabar Group aims to uplift not just individuals but entire communities, ensuring future generations are equipped with the tools for social and economic progress.
In addition to the scholarship program, the Malabar Group’s Hunger-Free World Project provides nutritious meals to the underprivileged across the country. Supported by a strong network of volunteers and partnerships with local NGOs, the initiative is committed to eradicating hunger and ensuring food security for all. Currently, 50,000 food packets are distributed daily in 80 cities across 16 states in India. Additionally, 10,000 food packets are provided every day to school students in Zambia. Malabar Group aims to scale the project to serve 100,000 people daily at 200 centers. The Hunger-Free World Project is being implemented in collaboration with the Thanal, a voluntary organization, which is active in social service.
The Malabar Group has also launched the Grandma Home project, which provides free, fully equipped accommodation for destitute women, offering them protection and care. Currently, homes are operational in Bengaluru and Hyderabad, with plans to expand to major cities in Kerala, as well as Chennai, Kolkata, Delhi, and Mumbai.
The Group’s CSR initiatives aimed at uplifting marginalized communities include medical aid for the underprivileged, support for housing construction, and financial assistance for the marriages of women in need. To date, the Malabar Group has invested over Rs. 263 crore in various social responsibility projects, reflecting its commitment to sustainable development.
Malabar Group’s continued focus on impactful initiatives such as education and hunger relief exemplifies the company’s belief that sustainable growth is only possible when communities are empowered and supported in every way possible. This dedication will remain at the heart of all future endeavours as the Group continues to expand both its business and social responsibilities.
Malabar Charitable Trust (MCT) founded in the year 1999 is the CSR wing of Malabar Group of Companies. The group allocates up to 5% of its profits towards CSR and philanthropic initiatives. MCT activities have been channelised through the Malabar Gold & Diamonds (MGD) Showrooms, the flagship company of Malabar Group, across the country and also with the operational support from grassroots organisations working in local communities.
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