According to police, truck driver Naeem lost control of his vehicle and rammed into a bus stand at South Extension where the labourers were working.
The incident was reported at around 4 am, they added.
All of them were rushed to AIIMS, where two were declared brought dead.
One of the deceased has been identified as Krishna while the other is yet to be identified. Three others are undergoing treatment.
Naeem has been arrested and a case of rash driving and causing death due to negligence has been registered against him.
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