Ajeet, a resident of Mohan Garden in Uttam Nagar area, was behind the wheels of the car which was attached with the defence ministry. He had All India Tourist Permit for the car.
Police said the driver lost control of the vehicle and rammed it into several shops, a hand-pulled cart and crushed Kumar.
Kumar was taken to a nearby government hospital where he was declared brought dead, said police.
"Kumar had come to Khayala to meet his friend. He was waiting for his friend near a vegetable market when he was hit by the speeding car. A passerby informed the police about the incident", said a police officer.
The impact of the accident was such that the car overturned three times before coming to a halt.
Ajeet's two friends, identified as Vinay and Aman, were also sitting in the car. They too have suffered minor injuries.
Ajit managed to flee from the scene and efforts are on to nab him, said the officer.