The trio was on a joyride on empty roads at about 11.40 PM yesterday.
The injured were identified as Adnan Ali, P Tejas, Siddhesh Mahadik -- aged between 18 and 20 years, they said.
Siddhesh, who was riding the bike, is undergoing treatment at civic run Bhabha hospital while Tejas and Adnan, who are in serious conditions, have been admitted to two different private hospitals, police at Bandra Kurla Complex Police Station said.
The trio sustained injuries and were rushed to nearby hospitals, police said.
The three have been booked under IPC 279 (Rash driving or riding on a public way) and 338 (Causing grievous hurt by act endangering life or personal safety of others) and under relevant sections of the Motor Vehicles Act.