Where the rich are investing 2015

Ashwin C Dungrani

The owner of Atmanand Gems is unwilling to let someone else manage his wealth

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Published 7 years ago on Nov 30, 2015 1 minute Read
Soumik Kar

Ashwin C Dungrani wears his wealth lightly, quite literally. His company, Atmanand Gems, a big name in Surat’s diamond circles, has been in the business for 25 years and employs over 1,200 people. Surat is home to a ₹1-lakh-crore diamond industry and the going has not been easy over the past few years. Dungrani says that barely 20% of his wealth is parked in his business. “The other 80% is in real estate,” he adds. The diamond industry is saddled with problems related to dropping prices and margins. “This has made it necessary for us to look outside our business and so, I have invested money in land. It is a safe and secure investment. More importantly, it gives you flexibility,” he says.