The youths - identified as Ajit and Vikky - were arrested from their hideouts in the city for raping the two DU students Saturday in west Delhi's Bawana area.
A police officer said that the third accused, Sunil, is untraceable and on the run and a hunt is on to nab him. All the three youths are in their 20s.
"The victims, who have been pursuing Bachelor of Arts (B.A.) course from DU, had gone with Sunil and Vikky on their bike for an evening ride. The youths took them at their friend Ajit's garage in Bawana," the police officer said.
The girls were given cold drinks laced with sedatives. When the girls became unconscious, the youths raped them and fled from the spot, the police officer added.
"After gaining consciousness, the victims approached their family members and narrated the story. After that, their family members registered a case against the accused. Medical reports of the victims confirmed rapes," added the officer.