Mukesh's total score now reads 11-under-202. Jaipur's Vishal Singh and Chandigarh's Harendra Gupta are two shots behind the leader in the tied second place.
Mukesh (67-69-66), who was overnight tied third, had an ordinary start to the day when he bogeyed on the first. The 47-year-old veteran, now aiming at his sixth IndianOil XtraPremium Masters title, rallied with an outstanding 20-feet eagle putt on the third.
He continued to putt well as he sank birdie putts from 10 feet, eight feet and six feet on the fifth, sixth and eighth respectively. Mukesh added another birdie on the 13th after his chip from the bunker landed within a foot of the hole.
"My hitting was very accurate today since I made the greens in regulation on all the holes. I did well to convert two left to right putts on the third and fifth holes today.
"These putts were crucial as left to right putts have been my problem area over the last two seasons. I have the confidence going into the final round as I have won at this venue on five previous occasions. I know the course conditions very well," he said.
Vishal Singh (67-65-72), the overnight leader, and Harendra Gupta (69-67-68) are in joint second with total scores of nine-under-204.
While Vishal made two birdies, a bogey and a double bogey in his round of 72, Harendra posted three birdies in his bogey-free round of 68.
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Rudresh Sharma of Delhi, the first round leader, is placed fourth at six-under-207.
Vinod Kumar's 65 was the best round of the day. It placed him fifth at five-under-208. The Delhi golfer's spectacular round included two eagles, four birdies and two bogeys.
Vinod drove the green on the par-four third hole and landed it within a foot of the pin for eagle. His other eagle came on the par-five 11th hole where his second shot landed within inches of the hole.