Cairo – Mubasher: Heliopolis Company for Housing and Development announced new updates to its budget for the current year.
The real estate developer aims to invest EGP 297 million during the second half (H2) of 2022 and EGP 403 million during fiscal year (FY) 2023, according to a bourse disclosure on Wednesday.
Moreover, the company intends to generate revenues of EGP 328 million and EGP 872 million during H2-22 and FY23, respectively.
In FY21/22, Heliopolis Company reported EGP 659.33 million in profits, a surge from EGP 180.15 million a year earlier.
Meanwhile, the company’s revenues stood at EGP 1.81 billion in FY21/22, compared to EGP 574.18 million in FY20/21.