Joshi (65), who was tied seventh at the end of the second round is now second, but three shots behind veteran Mardan Mamat (68) of Singapore who birdied the last hole to pull three shots clear after shooting a three-under-par 68.
"I'm really excited because I've been waiting for this moment. Hopefully I get the better out of everybody else. I've put myself in position to win an Asian Tour title before but didn't close it well. I'm playing well and I hope my putter holds up," said Joshi, a two-time winner on Indian PGTI Tour.
Meanwhile, Rahil Gangjee's third round 67 moved him up to tied 15th at two-under-211 and Sujjan Singh and Chiragh Kumar were the other two Indians in the top-20 as both were tied 17th at one-under-212.
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He added, "That eagle came after two bogeys so that really helped me. But I missed a short birdie and par putt in the next two holes. My putting hasn't been great so I need a good putting day tomorrow."
The 22-year-old Joshi, who turned pro only in 2013 and is playing only 12 event on the Asian Tour. His best has been tied 11th at the SAIL-SBI Open in his rookie year in 2013. Joshi's first two rounds were 71-68 and on Friday he had three birdies on front nine, followed by two more on 10th and 11th.