Heliopolis Company for Housing and Development says it is targeting net profits of nearly EGP 200 million for the fiscal year 2015/16.

The company's board of directors recently approved the estimated budget for FY15/16, the company said in a bourse statement.

Heliopolis Housing posted net profits of EGP 89.3 million for the six-month period ended 31 December 2014, an increase of 36%.

The real estate developer is capitalised at EGP 111.3 million, distributed across 111.3 million shares at EGP 1 par value each.