Anant Shirsath (26) and Abhijeet Salukhe (28) caught hold of the robber, who is in his 20s, after chasing him in narrow lanes and bylanes of Khetwadi in South Mumbai at around 9 pm yesterday, police said.
The robber, whose identity was disclosed, was later handed over to VP Road Police station, where a case against him was registered, said police, adding he was armed with a chopper.
Meanwhile, police have decided to reward the two, who were not on duty at the time of the incident, for their heroic act.
The duo rushed to help the person and noticed a youth in his 20s running from the spot with a bag in his hand which he had snatched. The bag contained Rs 1 lakh in cash and it was recovered, police said.
Shirsath joined the force in 2011 and is currently posted at local arms department at Worli. He earlier served in security detail at the Chief Minister's official residence 'Varsha' in Malabar Hill area.