The 17-year-old Prasad carded three-under 69 to go with his earlier rounds of 66 and 67 to get to 14-under 202 and was tied-13th with one more round to go.
Prasad, who was tied-11th overnight, was six behind the leader, Japan's Junya Kameshiro (67-62-67).
For the third straight day, Prasad had just one bogey on his card for the day. He had four other birdies and missed quite a few others.
Sujjan Singh (68-66-70) was the next best Indian at tied 23rd with a total of 12-under-204.
Among the other Indians in the field, Udayan Mane (68) and Abhijit Singh Chadha (73) occupied joint 50th place at nine-under-207, Ashok Kumar (69) was a further shot back in tied 58th, Aman Raj (71) and Manu Gandas (72) were both tied for 85th at six-under-210, Ajeetesh Sandhu (72) was in tied 94th at five-under-211 and M Dharma (73) was tied 106th at four-under-212.
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