PRD Rigs

Five Decades of Innovation and Excellence in Drilling Solutions
PRD Rigs: Five Decades of Innovation and Excellence in Drilling Solutions

PRD Rigs: Five Decades of Innovation and Excellence in Drilling Solutions

Mithunraj Paranthaman - CEO, PRD Group

The CEO Magazine-PRD Rigs.pdf

In the drilling and rigging solutions industry driven by precision, performance, and reliability, PRD Rigs emerges as an enduring symbol of innovation and excellence, setting the standard for drilling solutions that surpass expectations and redefine industry norms.

Founded in 1972, PRD Rigs boasts 5 decades of expertise in manufacturing and exporting drilling rigs. They began exporting in 1999 under the name Paranthaman Exporters after introducing their first Hydraulic Rig in 1992.

As the first ISO 9001:2015-certified drilling rig manufacturer in India, PRD offers an unmatched range of rigs for various applications worldwide. Their Design & Development Centre drives continuous innovation, ensuring cost-effective, robust machinery.

Excelling in engineering and quality through modern manufacturing techniques meeting global technological demands, PRD Rigs has served 500+ clients worldwide, including governments, corporations, and organisations.

With ten overseas branches and a dealership network spanning five continents, PRD Rigs has exported 2000+ rigs to 70+ countries.

With a dedicated workforce of 1000+ skilled professionals, PRD Rigs focuses on the water well and supplies industry, with a 75% market share in Africa. Their expansion into the mineral and metal mining sector with blast hole rigs demonstrates adaptability and global ambition.

In the Indian market, PRD Rigs commands an exceptional 95% market share in the Dimension Stone Industry and Granite sector. They’ve also ventured into the infrastructure and energy sector, contributing to solar piling and economic versions of piling rigs with over 600 units sold globally.

Mr Dhina (Dhina Pile Foundation & Co) shares, “PRD’s approach, core objectives, and the innovative methods we’ve adopted for restoring and mounting units have been truly commendable. These elements are what fuel my determination to tackle any job, no matter the challenges it presents. I am happy to share that, thanks to the PRD TMR, our company has achieved the remarkable milestone of becoming the industry leader in recent years.”

PRD Rigs envisions becoming a global leader in providing cutting-edge solutions, services and equipment while maximising customer value. Their mission is to be resourceful drillers offering sustainable, innovative, and reliable drilling solutions that nurture life, people, and the environment. Collaboration, innovation, quality, delivery, leadership, integrity, and cost-effectiveness encompass the core values driving PRD’s mission and vision.

Mithunraj Paranthaman, CEO, PRD Group

Mithunraj Paranthaman’s professional journey spans eight impressive years, primarily within his family’s drilling rig manufacturing company. As a third-generation leader, Mithunraj has played a pivotal role in driving the company’s growth.

Beginning as a Marketing Executive, he infused fresh marketing perspectives and innovative ideas. His passion for expanding horizons led him to Business Development, where he successfully ventured into new markets like Sri Lanka, Indonesia, and Russia, showcasing his strategic prowess.

Today, as the CEO of PRD Group, Mithunraj is committed to maintaining rigorous quality standards, fostering innovation through research and development, driving revenue generation, and establishing the brand as a symbol of quality and reliability in the drilling rig industry.

With a strong educational foundation in Business Administration from CMR University, Bangalore, and an executive program from IIM Calcutta, his leadership has propelled PRD GROUP to new heights, setting industry standards and establishing a formidable global brand presence.

An Extensive Suite of Services

PRD Rigs is dedicated to delivering core services and products that cater to the needs of global mining and drilling contractors, ensuring efficiency, productivity and success in drilling operations.

Their primary focus is on manufacturing high-quality hydraulic drilling rigs, renowned for their durability and efficiency across various drilling operations, including mining, construction and infrastructure development, geological exploration, and water well drilling.

Their commitment to innovation and environmentally friendly equipment, backed by rigorous research and development, boosts client confidence. PRD Rigs also offers customisation services to align their solutions precisely with the unique requirements of each project, taking into account factors such as drilling application, soil conditions, and drilling methods.

With a commitment to customer success and satisfaction, they provide comprehensive service and support, minimising downtime and emphasising equipment durability.

Leveraging decades of industry experience, they offer valuable insights into best practices and safety protocols, serving as trusted partners worldwide. PRD RIGS empowers clients with customised, environmentally conscious solutions, fostering industry success. Mr Tameem Bin Saif Al Mahrouqi (Managing Director - Ray International Group) shares,

"What was special about PRD was they didn’t just give a rig. They gave me a solution to what I was looking for in Oman. They truly understand the requirements. They have done good research, R&D, and came up with ideas and solutions. We have 8 drilling rigs, 7 rigs are from PRD Rigs, and one was from outside, so the number itself talks.”

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Think Drilling Solutions, Think PRD Rigs

PRD Rigs distinguishes itself in the industry through its steadfast dedication to quality and customer satisfaction. The brand’s innovative technology, customisation capabilities, and responsive customer support set it apart, delivering a competitive advantage.

With an in-house team of experts and a strong emphasis on safety, PRD Rigs prioritises both efficiency and client well-being. These distinctive qualities collectively establish the company as an industry leader, consistently providing excellence and innovation to address clients’ diverse needs.

Success for PRD Rigs and The “Good to Drill” Mantra

PRD Rigs’ success is rooted in their steadfast commitment to innovation and technological leadership, consistently delivering quality products that satisfy customers globally.

Their impressive global expansion and establishment of enduring partnerships based on customised service underline their dedication to excellence.

Their culture of innovation, customer focus, integrity, global collaboration, community engagement, and strong leadership drive the team’s approach, fostering innovation, customer satisfaction, transparent practices, global teamwork, community involvement, and individual ownership, ensuring the brand’s ongoing success and growth.

PRD Rigs has consistently earned recognition as the star performer of EEPC INDIA for exports from 2005 to the present year.

PRD Story Line

1972 - Paranthaman Engineering Works was founded by Mr. T. P. Thangaraj (Founder & Chairman).

1989 - Introduced the first pneumatic drill rig under Paranthaman Rock Drills (PRD).

1993 - Paranthaman Hydraulics & Equipment was established, led by Mr T. T. Paranthaman (Managing Director), transforming the company into a global enterprise.

1999 - Inception of Paranthaman Exporters in the Global Frontier.

2003 - PRD Rigs became India’s first drilling rig manufacturer to export with ISO 9001 certification. Opening of the first overseas branch in Ghana.

2008 - Exported the 100th PRD Rig to Ghana.

2009 - PRD Rigs Kenya Limited was established, serving East Africa with various rig types.

2010 - India’s First Drilling Rig Manufacturing plant in SEZ.

2019 - The firm achieved a 75% market share in water well drilling rigs in Africa.

2020 - Achieved a manufacturing and export record of 100+ units in a single year.

2022 - The lead for the global expansion and standardisation of their products to the Arctic was acquired by Mr Mithunraj Paranthaman (CEO).

2022 - PRD Rigs Celebrated its 50th anniversary and expanded its presence to 71 countries.

2023 - Incorporation of Paranthaman Mining Equipment in Indore, Gujarat, India for the development of a core drilling exploration rig exclusive.

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Thriving Amidst Challenges

Creating a five-decade-long legacy was no small achievement for PRD Group. Their journey was marked by numerous challenges and setbacks, but they persevered. The company conquered these hurdles through teamwork, adaptability, innovation, learning, customer focus, and risk management.

They identified obstacles, collaborated effectively, embraced change, and valued customer feedback. Proactive risk management and market awareness played crucial roles. Resilient leadership and a culture of innovation were key drivers, leading to a stronger and more competitive position in the market.

Even during the recent economic fluctuations, PRD Rigs demonstrated resilience through strategic adaptation. Diversification of services, stringent cost management, and ongoing research and development investment fortified their stability, enabling them to navigate the economic shifts effectively.

Mapping the Path Ahead: Trends and Innovations

As a leader in the drilling and rigging industry, PRD Rigs actively incorporates technological trends like digital transformation, automation, global reach, and remote working in their operational framework. This allows them to expand their global presence and offer remote solutions while delivering innovative drilling and rigging services.

Currently, PRD Rigs is focused on significant initiatives, including investing heavily in R&D to create top-performing global products with the latest technology.

They’ve diversified by establishing new companies, including their 3rd manufacturing plant. They are collaborating with global partners to integrate new technologies and prioritising employee training and engagement to help them adapt to changing market scenarios.

Discussing their future plans, Mr Mithunraj says,

“In the next five years, we aim to lead through innovation and technology, prioritise exceptional customer experiences, uphold sustainability and social responsibility, expand into new markets, leverage data and analytics, and nurture talent development. We will continually adapt our business models to stay competitive and differentiate ourselves in a changing landscape.”

Words of Wisdom

Advising aspiring entrepreneurs, Mr Mithunraj shares,

"To succeed in the future of Mining, tech and AI industry, focus on gaining strong knowledge, getting hands-on experience, networking, and staying updated with industry trends.”, “Don’t fear failure; embrace it as a learning opportunity. Give back to your community, uphold ethical standards in your work and stay updated on emerging tech. Prioritise environmental sustainability while upholding a global perspective and always stay curious”.

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