The Hindu Business Line : Malabar Gold to add 7 showrooms in South

Addressing presspersons here on Monday, Mr M.P. Ahammed, Chairman of the Malabar group of companies, said Malabar Gold has opened showrooms in Hyderabad and Thrissur. Seven more showrooms will be opened in Karnataka, Kerala and Tamil Nadu during the year.

Malabar Gold's 11th showroom in South India will be opened in Mangalore on May 18. Malayalam filmstar Mohan Lal will inaugurate it, he said. The Mangalore showroom will showcase jewellery in gold, platinum, and diamond. These are sourced from places such as Kolkata, Karwar, Mumbai, Rajkot, Singapore, Bahrain and Italy.

Diversification

He said the Malabar group has diversified its activities. It has ventured into business areas such as construction and leasing out of commercial complexes and shopping malls. The group, which is involved in housing development activities, is planning to set up a township at Jeppinamogaru in Mangalore, he said.

Mr Ahammed said the group runs two charitable organisations. While the Malabar Medicare Charitable Trust provides free medicines to the underprivileged in society, Malabar Housing Charitable Trust builds houses for the poor. A percentage of the annual turnover of the company is being used for these activities, he added.

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