Cairo Housing and Development Company’s (ELKA) consolidated net profits attributable to the parent company skyrocketed 1,855.59% during the first nine months of 2023, hitting EGP 15.168 million, compared to EGP 775,645, according to financial statements filed to the Egyptian Exchange (EGX) on November 19th.
Operating revenues fell to EGP 262.278 million in January-September from EGP 2.095 billion the year before.
Furthermore, Cairo Housing registered a standalone net profit after tax of EGP 24.966 million from January to the end of September, compared to EGP 11.063 million in the same period last year.
Established in 1906, the company provides real estate property investment and development, in addition to civil contracting for commercial and residential buildings. Through its main subsidiaries, it provides financial advisory and auditing services, real estate property management, and ownership and operation of hotels.
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