Cairo – Mubasher: Emaar Misr for Development (EMFD) reported a 462% leap in its net profits for the first quarter of 2015, reaching EGP 172.7 million ($22.6 million) compared to EGP 30.7 million ($4 million) in the same period in 2014, according to a bourse filing on Sunday.

Emaar Misr recently increased its issued capital from EGP 878.34 million to EGP 4.02 billion, an increase by EGP 3.14 billion divided on 314.1 million shares. This capital hike is the sixth so far for the company and will be paid in cash.