According to police, the incident was reported at around 4.30 AM.
The speeding vehicle -- which was coming from Lucknow and headed towards Mundka industrial area -- jumped onto the pavement and crushed five persons sleeping there.
The victims were rushed to a hospital where two of them -- identified as Anil Bedi and Ramesh -- were declared brought dead. The three remaining victims were admitted for treatment in a critical condition.
The driver, identified as Bablu Yadav, who had abandoned the vehicle after the accident and fled the scene, was arrested later in the evening by a police team.
A case under Sections 279 and 304A of IPC has been registered in this connection and further inquiries are on, said a senior official.