Akash Mitra, 18, Prashant Arora, 20 and Sandeep Arun Singh alias Sandy, 30, confessed to have broken into eight houses in posh Lokhandwala, and stealing cash and jewellery worth Rs 2 crores.
They used to sell the stolen jewellery to a jeweller in Zaveri Bazar. He has also been arrested, police said.