HLL Infra Tech Services posts 58% jump in FY23 net profit

New Delhi: HLL Infra Tech Services Ltd (HITES) has reported a 58 per cent jump in net profit to Rs 27.76 crore in 2022-23 compared to Rs 17.6 crore in FY22 on higher revenue from the infrastructure division, the Health Ministry said on Thursday.

The total turnover of the central public sector undertaking under the Health Ministry jumped by 19 per cent to Rs 361.38 crores in 2022-23 against Rs 303.40 crores in 2021-22.

These significantly positive results were achieved largely due to the infrastructure development business which saw the completion of the new All India Institute of Medical Sciences (AIIMS) at Bhatinda, Gorakhpur and Guwahati and upgradation of multiple projects during the last fiscal year, the ministry said in a statement. HLL Lifecare Limited (HLL) is a 50-year-old CPSE under the Ministry of Health and Family Welfare, the statement said.

With the objective to specifically focus on the Construction and Procurement business in the healthcare sector, HITES was raised on 3rd April 2014. 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 and construction management including site supervision, contract management, facility management etc, the statement. It has off late diversified into setting up institutional, commercial, residential, tourism-related projects where it provides comprehensive services from “Concept to Commissioning”.