Malabar Gold & Diamonds, one of the largest gold and diamond retail chains in the country, launched the construction of Malabar Gems & Jewellery Manufacturing unit in Telangana with a foundation stone laying ceremony. The facility is set to become the largest jewellery manufacturing unit of the group. K T Rama Rao, Hon’ble Minister of Municipal Administration and Urban Development, Industries, IT, Electronics and Communication, Govt. of Telangana laid the foundation stone of the manufacturing facility on October 15, 2022.
The ceremony took place in the august presence of Jayesh Ranjan, IAS, Principal Secretary, Industries, Commerce & Information Technology (IT), Govt. of Telangana and Shri. Ahammed M P, Chairman, Malabar Group of Companies, Abdul Salam KP, Vice Chairman, Malabar Group of Companies, Shri. O Asher, Managing Director, India Operations, Malabar Gold & Diamonds, Nishad AK, Group Executive Director, Manufacturing & B2B, Malabar Group of Companies. P.K. Siraj, Retail Operations Head (Rest of India), Malabar Gold & Diamonds and other distinguished guests.
Located at General Park and spread over 3.7 acres, the manufacturing facility is slated to be operational soon. It will have the capacity to manufacture 10 tonnes of gold jewellery and 1.5 lakh carats of diamond jewellery annually. It will also house a state-of-the-art gold refinery facility with an annual gold refining capacity of 180 tonnes. The manufacturing facility will manufacture a diverse range of jewellery, including gold, diamonds, precious gemstones, platinum and uncut diamonds. The facility is equipped with CNC machining, the latest technology-enabled chain-making machines and laser cut machines in collaboration with industry experts from Italy, USA & Germany. The establishment of the facility is in line with the expansion plan announced earlier as part of its FY 2022-23 strategy
The General Park manufacturing facility which will be built on 2.3 lakh sq. ft. area will have a full-fledged skill development centre, design studio and R&D centre along with accommodation facility for the employees. It will also have an automated warehousing facility.
Malabar Gold & Diamonds will invest Rs.750 crore to set up the manufacturing facility and a refinery in Telangana. Keeping in line with the brand’s outlook as a responsible jeweller, the facility has been designed to provide employees safe and pleasant working conditions.
The General Park facility will majorly support the domestic and global expansion plan of the group. Malabar Gold & Diamonds has plans to launch 97 showrooms – 60 across India and 37 overseas in FY23. The goal is to take the showroom tally to 373 by March 2023 with a robust presence in 13 countries. The expansion plan is in line with Malabar Gold & Diamonds’ aim to become the world’s largest retailer with a 2.5 times growth in revenue to over Rs. 75,000 crore by FY25.
Commenting on the foundation stone laying ceremony, Malabar Group Chairman Ahammed MP said, “The soon-to-be operational manufacturing unit in Telangana will further strengthen our manufacturing capabilities apart from our retail expansion drive. We have a major investment plan lined up for the state of Telangana. The manufacturing unit in the state will further bolster our mission – “Make in India, Market to the World”.”