Malbar Gold gives away scholarships

Hyderabad: Malabar Gold & Diamonds, as part of their Corporate Social Responsibility (CSR) under Empowering Education, Empowering Womanhood initiative, provided scholarships for students who are in need & studying Intermediate in Govt Junior Colleges, at Ravindra Bharathi, Lakdi-Ka-Pul on Tuesday. Sabitha Indra Reddy, Minister of Education was the chief guest at the event.

Sudheer Reddy, MLA, LB Nagar, Subhash Reddy, MLA, Uppal, Jadala Himalatha Vinod, Corporator - Himayathnagar, P Pavani Mahipal Reddy, Corporator - AS Rao Nagar, Bhavani Praveen Kumar, Corporator, Gaddiannaram, Malabar Gold & Diamonds Management Team Members were among those present at the charity event.

Speaking about the event, Pk Siraj, Regional Head, Malabar Gold & Diamonds, AP&TS, said, "Under CSR, we are providing a scholarship of Rs 3,000 to each student. A total of 403 students (AS Rao Nagar – 177 Nos, Dilsukhngar – 125 Nos & Himayatnagar 101 Nos) studying Intermediate in Govt Junior Colleges would be receiving the scholarships. This year we are providing scholarships for 5,400 students all together in AP & TS States."

The CSR initiatives are at the core of the Malabar Group's corporate philosophy right from the days of inception. Over the last two decades the group has conducted CSR activities such as supply of free life saving medicines, financial aid for construction of homes for the homeless, women empowerment programmes, student scholarships and environment protection activities etc.

Malabar Group spends five per cent of its profit for CSR activities. It earmarks over Rs 20 Crores, every year for charity activities. The Housing Charitable Trust under Malabar Group has already given financial aid for more than 15,941 homeless people & spent so far Rs 47.57 crores. In Telangana &Andhra Pradesh region, over 9,000 girls were awarded scholarships worth nearly Rs 2 crore as part of the CSR activities in the last 5 years. In the last 20 years Malabar Charitable Trust has supported more than 6 lakh needy persons and provided financial assistance for medical charity by disbursing Rs 33 crore till date.