Two women who were injured when Salim Mehajer lost control of his $300,000 Ferrari have settled their claim against the Auburn deputy mayor for $1.72 million.

Nhu Hua, then 68, and her daughter-in-law Tuyet La, 40, were rushed to hospital in January 2012 when the then 26-year-old lost control of his Ferrari 612 Scaglietti, striking the pair on the footpath on The Boulevard at Lidcombe.

The pair suffered serious leg and pelvis injuries that required surgery at Westmead Hospital.

Ms Hua and Ms La launched civil proceedings against Cr Mehajer in the NSW District Court last year, and the hearing was set for November 9.

But Fairfax Media understands the case was settled quietly out of court about four weeks ago for $1.72 million. Cr Mehajer's insurer at the time, NRMA, will foot the bill.

Steven Mousas, director and co-founder of AJB Stevens Lawyers in Sydney, acted for the women.

He would not comment on the settlement figure but said: "We have successfully resolved both claims and are pleased with the significant compensation outcome achieved for both our clients."

In October 2012, a month after he was elected deputy mayor of Auburn, Cr Mehajer was convicted of negligent driving in the local court and sentenced to 150 hours' community service and banned from driving for a year. But the conviction was overturned on appeal to the district court.

The millionaire property developer was not speeding at the time of the crash and claimed he had lost control of the 600-horse power luxury car when another pedestrian walked out in front of him.

The settlement will be welcome news for Cr Mehajer, who is facing a string of civil and criminal cases in multiple courts and was expected to give evidence in this dispute.

He will face charges of stalking and intimidation later this year after the father of Sydney siege victim Joel Herat alleged Cr Mehajer threatened him during a dispute at Anytime Fitness gym at Burwood on September 16.

The NSW Civil and Administrative Tribunal has also been asked to decide if Cr Mehajer breached pecuniary interest laws by failing to make a full disclosure of his business interests to council. It follows an investigation by the Office of Local Government.