TMG Q3 profit up 12.5% to EGP 5.06bn

Talaat Moustafa Group (TMG) reported a 12.5% year-on-year rise in net profit for the third quarter (Q3) of 2026 to EGP 5.06bn, up from EGP 4.52bn in the same period of 2025. Higher unit deliveries and strong growth in real estate sales drove the increase.

Revenue grew 24.7% to EGP 17.36bn, from EGP 13.92bn in Q3 2025, the group said in a statement.

Real estate development revenue rose 31.5% to EGP 11.67bn. Hospitality revenue grew 7.7% to EGP 2.91bn, and revenue from other recurring activities increased 18.4% to EGP 2.78bn.

Real estate development was the main driver of growth, helped by construction progress and more unit deliveries. TMG delivered 1,265 units in the quarter, up 34% from 946 units a year earlier. It also began handovers at its Noor project, where the first 200 units have been delivered.

On a comparable basis, contracted sales jumped 54.6% to EGP 71bn from EGP 45.9bn, and units sold rose 41% to 4,670. The comparison excludes a one-off EGP 67.1bn land deal with the National Bank of Egypt (NBE). That deal was linked to the Spine project and booked in Q3 2025.

Nine-month profit reaches EGP 15bn

For the first nine months of 2026, net profit rose 18.6% to EGP 15.01bn, from EGP 12.63bn a year earlier. Revenue increased 24.1% to EGP 47.55bn.

Real estate development revenue climbed 33.2% to EGP 28.64bn and made up about 77% of the group’s total revenue growth. Hospitality and other recurring activities brought in the remaining EGP 18.9bn.

Contracted sales for the nine months reached EGP 290.1bn. That is up 13% on a comparable basis, excluding the EGP 67.1bn land deal from the 2025 figure. The unrecognised sales backlog grew 11% year on year to EGP 491.2bn at the end of September, from EGP 443.4bn.

TMG ended the period with EGP 80bn in cash and cash equivalents against EGP 17.3bn in debt, a net cash position of EGP 62.7bn.

“Our performance in the first nine months of 2026 reflects the strength of the group’s diversified business model, stable demand for the integrated urban communities and destinations we develop, and the trust we have built through decades of consistent delivery,” said CEO Hisham Talaat Moustafa.

Moustafa said contracted sales of EGP 290bn show continued demand for the group’s projects in Egypt and in regional markets. He added that construction at SouthMED is running ahead of schedule and that unit handovers at Noor began in the third quarter. He called the group’s record of delivering major projects and meeting its commitments a key competitive advantage.