Malabar group to diversify into construction, e-commerce

CHENNAI: Kerala-based Malabar Group, promoters of jewellery retailer Malabar Gold and Diamonds, has planned to diversify into development of townships, commercial hubs, e-commerce and organic farming among others.

"The Malabar Group also have plans to embark on massive expansion and diversification into other areas including development of townships, commercial hubs, IT parks and gold and diamond manufacturing facility," the company said in a statement.

The company with a turnover of Rs 22,000 crore will further reinforce its position as one of the fastest growing companies in the country, it said.

Meanwhile, the company said the 100th showroom of Malabar Gold and Diamonds would be inaugurated by cricketing legend Kapil Dev at Gurgaon shortly.

"The company will also launch showrooms in Singapore, Kolkata, Ahmedabad next month and has planned to have operations in Sri Lanka, Indonesia, Malaysia and Bangkok..", it added