He said 171 gram of MD drug, commonly known as 'ecstasy', worth Rs 3.42 lakh was seized from the trio, arrested by the Anti-Narcotics Cell (ANC) from Mazagaon in Central Mumbai during a special drive.
The raid was carried out on a tip-off provided by a schoolteacher. Those nabbed were identified as Zakir Mansur Shaikh (33), Nurnabi Alihad Shaikh (40) and Paki Babloo Shaikh (26), all residents of Reay Road, the official said.
"We conducted a special drive in the vicinity of educational institutions and arrested three drug peddlers with 171 gram of MD drug worth Rs.3.42 lakh," Shivdeep Lande, Deputy Commissioner of Police (ANC), told PTI.
One of them has previous record of selling narcotics, the police officer said.
All the accused were produced before a court which sent them in police custody till August 24, he added.
Police are investigating from whom they had procured the drugs and since when they are in this business, another official said.