Feroz's three-day total stands at an impressive four-under par 212.
Overnight leader Piyush Sangwan shot a 74 to share the second spot with a fast improving Kartikey Vashist, who submitted a card of one-under 71 for a 54-hole total of 218.
Manu Gandas was fourth at 220, while Viraj Madappa and Pukhraj Singh Gill were tied for the fifth spot at 226.
A close battle is on the card for top honours in Category B as Karandeep Kochhar and Karan Sharma were tied for lead with a total of 233.
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Kartik Sharma was lying third at 234, while Arjun Puri was fourth at 236. Jaiveer Singh was fifth at 237 and Arjun Prasad and Vignesh Thakur were tied for the sixth place at 238.
Feroz began with a determined approach and made a solid start. A birdie on the second was followed by another on the sixth before making a birdie-birdie finish on his front nine to take the turn at four-under.
A birdie on the very next hole nullified the error as he turned in with a card of five-under.
"I have been playing well since last week. It was just a matter of making birdies, which I ended up making today.
"A four-shot lead is not that huge but I shall definitely try and replicate my efforts in the final round," said Feroz.