This is the heart-stopping moment a drill rig collapsed onto a street, narrowly missing a car and pedestrians in Brazil.

Footage shows the construction equipment toppling onto the road as locals quickly moved away in the Santa Cecilia district of downtown Sao Paulo.

A black vehicle pulling out of a parking space braked sharply and narrowly avoided being struck as the rig toppled across the highway, partially blocking traffic on August 26.

Sao Paulo's Public Security Secretariat identified the equipment as a 'continuous propeller C' drill that became unstable during excavation work.

Civil Defence and CET (Traffic Engineering Company) teams were deployed to the construction site, operated by You Inc.

The incident was registered at the 77th Santa Cecilia Police District as a danger to life or health.

Police are investigating whether safety and hygiene standards were breached.

In a statement, You Inc. said: 'This morning, an incident occurred with drill equipment at a construction site located on Rua Jaguaribe.

'Fortunately, there were no injuries or property damage.'

The firm responsible for the work immediately took all necessary measures to ensure the safety of the surrounding area and local traffic.

An investigation is underway to determine the cause of the incident and appropriate next steps.

The organisation added: 'You Inc. reiterates its commitment to best construction practices and the safety of the community surrounding its projects.

'All necessary preventive and corrective measures are being adopted with the highest priority.'

Traffic was diverted until the drill rig was removed and the road cleared.