The incident took place last night, they said.
Ramesh Kumar Sahu(42), a resident of Juhi, Ravidasnagar, was a road-side vendor, selling sweets, at Bara Devi point. Due to Diwali, he was returning home late last night, police said.
Near Juhi depot, he was hit by the speeding car. Thereafter, he was taken to a hospital where doctors declared him brought dead, they said.
Ramesh is survived by his wife and two children.
The body has been sent for postmortem, police said, adding that searches are being made to find the accused.