Bhullar carded a total of 20-under but despite his valiant effort fell three shots short of the South African.
The South African shot a 10-under 62 to open up a three-stroke lead over China's Wenchong after the third round in Greater Noida.
The Indian was the best-placed Indian at four-under after seven holes.
Bhullar sealed the deal with a flawless five-under 67 to win.
Jio MAMI 2016: Bollywood Stars Shine on the Red Carpet at the Opening Ceremony
Hollywood Friday: Inferno or Girl On The Train; What's Your Pick?
Amitabh Bachchan Celebrates His Birthday With the Team of Pink
Rani Mukerji, Kajol, Ranbir Kapoor Step Out In Style For Durga Puja Celebrations
Bollywood Friday: Mirzya and Tutak Tutak Tutiya Release This Week