According to the Metropolitan Police , he was suffering from life-threatening injuries following the incident which happened just before midday.
He is now said to be in a stable condition, but his injuries could be life-changing.
A spokesman for the Met Police said: "The man remains in hospital in a serious but stable condition.
"His injuries are no longer life-threatening but are possibly life-changing."
Emergency services were called to the scene shortly before 11.40am after metal beams fell from the first floor of a building in Cricklewood Broadway.
Two men were taken to hospital.
The London Air Ambulance also attended the scene.
The scaffolding collapsed near to The Crown and Iceland supermarket.
The Heath and Safety Executive has told getwestlondon that they are aware and are investigating the incident.
Keep up to date with the latest news in west London via the free getwestlondon app
You can even set it to receive push notifications for all the breaking news in your area