Southwark Crown Court heard Sager Construction Limited (SCL) had been appointed the principal contractor for the construction of a shopping centre and residential units in Studd Street London.
In February 2015 the 64-year old employee of formwork contractor Shaun Dixon Services Ltd (SDSL) was working to install a primary beam in the basement when he fell from the top work platform.
The worker suffered fractures to both of his feet and deep cuts to his head and arms as a result of this fall from height.
An HSE investigation found that workers were allowed to work off scaffold boards which were in a poor condition.
It was also found that the companies involved tolerated particularly poor practices in relation to work at height while erecting the formwork.
Sager Construction of west London pleaded guilty to breaching CDM Regulations and was fined £34,000 and ordered to pay costs of £6,577.
Shaun Dixon Services Ltd of Buckhurst Hill, Essex, was also found guilty. The company has since entered liquidation and has been fined £160,000 and ordered to pay costs of £15,119.
Speaking after the hearing HSE inspector Gabriella Dimitrov said: “The worker is lucky to have not sustained more serious injuries as a result of this fall from height.
“It is entirely foreseeable that accidents will occur where work at height is being carried out without suitable work platforms and other measures to prevent workers from falling.
“HSE will take action to ensure that duty holders are held to account for any failings.”