Egypt’s real estate developer Talaat Mostafa Group (TMG) Holding Co. posts consolidated net profit after tax of EGP 288.5 mn in the first quarter of 2017, compared to EGP 207.8 mn in the same period a year earlier, Invest-Gate reports.

Meanwhile, the company’s Q1 consolidated revenue accounts for EGP 1.29 bn in Q1 compared to EGP 1.21 bn a year ago, according to the TMG’s financial results report. Sales of all projects hit EGP 4.28 bn, the report adds.

Last month, Talaat Mostafa purchased a 500-feddan (acre) plot in the New Administrative Capital for EGP 4.4 bn (USD 243.77 mn).