HITES achieves 58% jump in net profit during financial year 2022-23

HLL Infra Tech Services Ltd (HITES), a central public sector undertaking under the Union Health Ministry, achieved a 58 percent jump in net profit with total turnover climbing 19 percent to Rs 361.38 crores during financial year 2022-23 ending March 31.

HITES reported profit after tax at Rs 27.76 crores in 2022-23 compared with Rs 17.60 crores a year ago – a significant feat for a Miniratna subsidiary with net worth of just Rs 2 crore which was incorporated merely nine years ago. Total turnover during the same period was Rs 361.38 crores versus Rs 303.40 crores in 2021-22.

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 upgradation of multiple projects during the last fiscal year.

HLL Lifecare Limited (HLL) is a 50-year-old Govt. of India Enterprise, under the Ministry of Health and Family Welfare, Govt of India. With the objective to specifically focus on the Construction and Procurement business in the healthcare sector, HITES- HLL Infra Tech Services Limited was raised on 3rd April 2014 with the objective to focus 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 off late diversified into setting up institutional, commercial, residential, tourism related projects where it provides comprehensive services from “Concept to Commissioning”.