The seized cocaine is of a fine variety from Brazil, sources said and is estimated to cost over Rs 5 crore for a kg.
Narcotics Control Bureau's (NCB) Delhi Zone Chief Rohit Sharma told PTI that "we have apprehended two South African ladies coming on a flight from Sao Paulo, Brazil.
"We were helped by the Customs authorities in the action at IGIA tonight," he said.
The NCB, based on a tip-off, apprehended the women soon after their flight landed at IGIA and nabbed a young Ghanian man who had allegedly come to receive the consignment.
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The agency will produce all the accused in a court here tomorrow after it booked them under Narcotic Drugs and Psychotropic Substances Act (NDPS).
This is one of the largest seizures of this party drug in the country as police and other drugs enforcement agencies usually seize cocaine in grams as it is very costly.