The incident took place on Tuesday evening when Sunil Aggarwal (24) was waiting for a friend in the local market at Uttam Nagar.
"Suddenly, two men on a motorcycle snatched his mobile phone in a flash. They then fled even as Aggarwal chased them. Another youth, identified as Sardar Jagbir Singh (26) joined the chase," a police official said.
The duo continued to search for the bikers and reached near Gujranwala Apartment in Vikaspuri area, where they spotted them snatching a mobile from a woman.
The two accused were identified as Tarun and Praveen. Police recovered five snatched mobile phones and one stolen motorcycle from them.
Police said the duo was found to be involved in at least six cases of snatchings and thefts in west Delhi. Both were unemployed and residents of the same area.