Willet and twice-Italian Open champion Molinari tied for second with Rafael Cabrera-Bello, Ryder Cup vice-captain Graeme McDowell and Thomas Pieters.
Overnight leaders Robert Rock, Laurie Canter and Richard Sterne struggled, with Canter and Sterne shooting one-over for a share of 17th place. Rock shot one-under on the day to slip back into a share of seventh place.
Pablo Larrazabal retired from the tournament after injuring his wrist at the 14th hole.
(Reporting By Arnab Paul in Bengaluru, editing by Larry King)
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