A diamond tycoon in India has again given away more than a thousand cars and hundreds of apartments to his staff as a bonus for meeting company targets. Savjibhai Dholakia, who runs Hare Krishna Exports, a diamond export firm in the city of Surat, announced his company would give 1,260 cars, 400 apartments and pieces of jewelry to his employees ahead of the Hindu festival of Diwali which falls on the weekend. “Our aim is that each employee must have his own home and car in the next five years. So we have decided to gift cars, homes and jewellery to employees,” Dholakia told Agence France-Presse. The 400 apartments, each of 1,100 square feet, would be allotted in a housing scheme of the company itself. “The flats would come dirt cheap at Rs 15 lakh (approx. $22,000) and the monthly instalment, which the employee will start paying after five years will be Rs 11,000 ($165),” he said.
He said the rewards were in recognition of the outstanding performance and dedication shown by employees in the last five years. The company would spend an estimated 500m rupees ($7m) under the loyalty program to reward an unknown number of staff from a total workforce of 5,500. Most employees receive presents of some kind from their bosses during Diwali, the festival of lights, but they are usually boxes of Indian sweets. But Dholakia has been making headlines by giving expensive gifts to his employees since 2012, when three employees received cars for their performance. The generous boss gave 491 cars and 207 apartments to his employees under a similar program in 2014. His firm is one of the leading polishing companies in India’s diamond hub Surat and exports diamonds to some 75 countries.