Punjab State Tubewell Corporation (now Punjab Water Resources Management & Development Corporation) was incorporated in December, 1970 with the main objectives of utilization of ground water resources in the State of Punjab thereby providing irrigation facilities to the farmers through installation of deep tubewells in the most backward kandi area of the State which is devoid of other means if irrigation due to deep water table and difficult underground geological formations.

In order to give further boost to the agricultural production in the State, the work lining of watercourses was also entrusted to the Corporation by the Govt. in the year 1974-75 under the various schemes with refinance made available from NABARD, World Bank, etc. and since 1998 under the Centrally sponsored Command Area Development and Water Management Project and this activity is being continuously pursued by the Corporation.

In the year February, 2008 the objects and functions of the company broadened and accordingly the name of the company was changed from Punjab State Tubewell Corporation to Punjab Water Resources Management and Development Corporation and a fresh certificate of incorporation was issued.