The presence of toxic substances in aquifers, particularly potentially toxic heavy metals, is an important environmental and social concern worldwide. These heavy metals are capable to exert many injurious health effects in human beings by intake of drinking metal-contaminated water. However, very little attention is paid towards quantitative and qualitative analysis of groundwater used for drinking purpose in several less-developed countries. Therefore, this study was intended to estimate, for the first time, the heavy metal levels in groundwater/drinking water in District Vehari, Pakistan. A total of 129 groundwater samples were obtained and subjected to analyze heavy metal concentrations (lead, copper, cadmium, nickel, manganese, chromium, iron, and zinc). Moreover, pH, electrical conductivity, temperature, total dissolved solids, and anion (carbonates, chloride, and bicarbonates) and cation (calcium, potassium, sodium, lithium, and barium) contents of groundwater were also determined. It was noticed that the values of several groundwater physicochemical characteristics such as cation contents, alkalinity, chloride concentration, and especially the concentrations of heavy metals such as Pb (93%), Cd (68%), and Fe (100%) were higher than their limit values given by WHO. Principal component analysis separately grouped heavy metals and physicochemical characteristics of groundwater. The risk assessment indices predicted potential carcinogenic risks due to the consumption of metal-rich groundwater, predominantly with Cd (0.0007-0.03). The mean hazard quotient (HQ) values for all the metals were < 1, while Pb showed HQ > 1 envisaging non-carcinogenic risk with the consumption of studied groundwater. The findings of the study emphasized on the need of appropriate approaches to remediate groundwater before being used for drinking purpose.