The victims, who were returning from a temple fair, met with the accident yesterday, Deputy SP Atul Kumar Srivastava said.
The deceased have been identified as Dinesh (21), Tilak (18) and Madhav (20), he said, adding that the trio belonged to Naugaon village.
While Dinesh and Tilak died on the spot, Madhav succumbed to his injuries at a local hospital, police said.
"The truck driver managed to flee the scene," they said.
(Reopens BES 19)
Telangana Chief Minister K Chandrasekhar Rao expressed over the deaths in the road accident near Kamareddy in Nizamabad district, an official release said.