Jack Fairbairn, 19, was with three friends when he fell from the third floor on to a concrete surface near a swimming pool on Wednesday just before 6am.
He was taken to the Son Espases Hospital with head and arm injuries and was said to be in a serious condition, but it emerged yesterday he had only four stitches inserted in a head wound.
At the family home in Kelso, Roxburghshire, his mother Helen said he had been extremely fortunate to escape serious injury.
The 46-year-old nursery nurse said: "He is a very lucky boy. He fell from a third floor balcony but he is going to be okay."
Investigators are probing the possibility he was trying to jump between balconies or into the swimming pool.