Cairo – Mubasher: The board of Heliopolis Company for Housing and Development has approved the estimated budget for the current fiscal year (FY) 2022/2023.

The company intends to achieve EGP 919.22 million in profits by the end of FY22/23, according to a bourse disclosure on Wednesday.

In the meantime, it aims to invest EGP 460.69 million, while registering revenues of EGP 2.45 billion and expenses of EGP 1.56 billion. 

It is worth noting that during the period from July 2021 to March 2022, the real estate developer recorded profits of EGP 19.23 million, compared to EGP 16.25 million a year earlier.