The deceased were identified as Shreyansh Sharma (22), Omkumar Borse (23), and Lay Deshbhratar (20).
The students were returning from Khandala to their campus when the accident occurred around 9 am near the Panvel exit, Gajanan Ghadge, senior inspector of Panvel Taluka police station, told The Indian Express.
According to a report by NDTV, police suspect the driver may have dozed off, causing the vehicle to hit a divider between Karadia and Balapura. The vehicle then fell off a flyover into a large, dry sewer.
The vehicle was completely damaged in the crash, reports said.
The bodies have been shifted to the mortuary of Kaithun Hospital.