Police said one of the pilots was suspected to have died.
The crash occurred on the outskirts of the air base in an open field.
"Mid air crash at Yelahanka... One Indian Air Force pilot suspected dead. Two injured but out of danger," Karnataka Director General of Police and chief of Fire and Emergency Services M.N. Reddi tweeted.
"Two pilots were airlifted soon after the crash," an airbase official told IANS earlier.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)