Cairo – Mubasher: The board of directors of Heliopolis Company for Housing and Development (HHD) approved the budget for fiscal year 2020/2021.

According to the planned budget, the company aims to achieve net profits of EGP 1.2 billion for the coming fiscal year, the company said in a bourse disclosure on Thursday.

In addition, the state-run firm plans to generate EGP 3.074 billion in revenue in FY20/21.

It is noteworthy that during the first half of FY19/20, Heliopolis Housing’s net profits hiked to EGP 351.34 million from EGP 48.6 million in the year-ago period.