The boys identified as Nalinikanta Patra and Rudranarayan Patra, both aged around three years, were sons of two brothers, who were daily wage earners, police said.
The duo in a playful mode had ventured to the pond side area located in the backyard of their house and apparently slipped into the water, they said.
Even as their parents were searching the two, they found one body floating in the pond water. They retrieved the other body as well.
The boys were declared brought dead at the government hospital at Rajnagar.