Ashish Shinde (19) and Swapnil Jadhav (21) were arrested on Tuesday.
As per the complainant, when he was walking to Andheri station from MIDC on Monday, a man in a moving auto rickshaw snatched his mobile phone.
Shinde was allegedly driving the rickshaw while Jadhav was sitting in the back.
Police tracked down the rickshaw’s number from CCTV footage and tracked down the accused.
The duo were arrested under relevant sections of the Indian Penal Code including 392 (robbery) and further investigation is underway, the official said.