Joy Alukkas

Joy Alukkas is an Indian businessman from Kerala.

He is the chairman and managing director of Joyalukkas Group.

According to a 2023 Forbes report, he has a net worth of $3.1 billion.

His father, Varghese Alukkas, was a jeweller.

In 2001, Alukkas founded Joy Alukkas Jewelry.

The group is based in Thrissur, Kerala and Dubai.

In 2007, he opened a gold & diamond jewellery showroom, and a "Diamond Cave" in Chennai, India.

In 2012, Joyalukkas was authorized to sell Forevermark branded diamonds from De Beers.

Other businesses headed by Joy Alukkas include Mall of Joy, a shopping retail destination, Jolly Silks, a silk fashion label, Joyalukkas Exchange, a money exchange platform, and Joyalukkas Lifestyle Developers, a real estate company.

In May 2018, Joy Alukkas donated ₹20,000,000 as a relief fund for victims of the Cyclone Ockhi.

After the Kerala Floods in September 2018, the Joyalukkas Foundation announced that it would build 250 houses for those who have lost their homes.

350 orphaned students were awarded the 'Joy of Hope' scholarship by Joyalukkas Foundation securing educational support for five years.

Supported by a ₹2.5 Crore contribution from Mr. Joy Alukkas.

Plans for a Thrissur based old age home and palliative care center were also announced.

In 2018, Income Tax Department Kochi carried out an IT raid on over 130 showrooms and premises related to the group, and found tax evasion and unaccounted sales of gold jewellery to the tune of ₹500 crore.

In February 2023, the Income Tax Department confiscated assets worth ₹305 crore of Joy Alukkas group as part of the raid on alleged black money transfers.

ED has successfully resolved the case of financial transfer via Hawala Channels from India to Dubai, Joy Alukkas, the Chairman of Joy Alukkas India Pvt Ltd, had assets valued at ₹305.84 crore attached by the Directorate of Enforcement in February 2023.