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The 31-year-old conjured the requisite 2500 ELO rating points, the minimum requirement to be a GM, way back in 2012 with two GM norms but for the third one, he had to wait for 12 years.
The Chennai-based teen bettered Gary Kasparov's record by quite a distance.
The 17-year-old Gukesh is in joint lead with Russia's Ian Nepomniachtchi.
Gukesh and Nepomniachtchi have six points each with Praggnanandhaa, Caruana and Nakamura close on their heels half a point behind.
Nakamura, Gujrathi and Caruana share the fourth spot on 4.5 points.
They also became the first-ever brother-sister duo to make the Candidates, the qualifying event for the World Championship match.
Praggnanandhaa's fans eagerly waited at the exit gate and presented him a crown of flowers, a shawl and bouquets.
Gujrathi won the match with black pieces as he exploited a tactical oversight from his famous opponent.
The 24-year-old Keralite was forced to remove his socks and shoes by an arbiter after the metal detector raised an alarm during a random check.
So took home the first prize of $200,000, while Keralite Nihal was richer by $100,000.