HLL Infra Tech Services net profit jumps 58% in FY23

New Delhi: State-owned HLL Infra Tech Services Ltd (HITES) reported a 58% jump in net profit with total turnover climbing 19% to ₹361.38 crores during financial year ended 31 March.

“HITES reported profit after tax at ₹27.76 crores in 2022-23 compared with ₹17.60 crores a year ago – a significant feat for a Miniratna subsidiary with net worth of just ₹2 crore which was incorporated merely nine years ago,” the Ministry of Health and Family Welfare said.

According to the health ministry, these significantly positive results were achieved largely due to infrastructure development business which saw completion of new All India Institute of Medical Sciences (AIIMS) at Bhatinda, Gorakhpur and Guwahati and upgrading of multiple projects during the last fiscal year.

HLL Lifecare Limited focuses on the construction and procurement business in the healthcare sector. Besides building infrastructure, it provides procurement consultancy, facility management and bio-medical engineering.

The infrastructure development division of HITES offers services in the area of architectural, structural and MEP design, estimation, bid process management, project & construction management including site supervision, contract management, facility management etc.

It has of late diversified into setting up institutional, commercial, residential, tourism related projects where it provides comprehensive services from “concept to commissioning”.