Out of the four diamond units that Kheni owns, only two are operational. The jobless workers from his firm have migrated back to their native villages, while the rest work at 50 per cent wage cut.

Kheni said: "I am a businessman and want to generate money in various businesses. I will get good profit in construction business and will have the authority to use the money anywhere."

Kheni believes that the market situation will become stable in the next three months and many jobless workers will get their jobs back.

He, however, admits that two of his diamond polishing units are operational and he is paying wages to the existing workers.

He said: "Like others, my factory had also become a victim of the global meltdown. The workers refuse to work at lower wages."

Explaining his diversification to the real estate, Kheni said: "I am holding a partnership with Rajhans group. Our construction business is doing fine as of now."

The Rajhans group, in partnership with M. Kantilal group, signed the MoU to develop residential projects at Rundh in Surat.

M. Kantilal group, which is famous for its diamond business in Surat, has now invested their money in the construction business for developing various projects at different sites.