diff --git a/BUILD b/BUILD
index e582d0326d8..e9415311da4 100644
--- a/BUILD
+++ b/BUILD
@@ -215,7 +215,7 @@ g_stands_for = "grand"  # @unused
 
 core_version = "38.0.0"  # @unused
 
-version = "1.61.0-pre2"  # @unused
+version = "1.61.0-pre3"  # @unused
 
 GPR_PUBLIC_HDRS = [
     "include/grpc/support/alloc.h",
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 045ca691a94..956d738b9cd 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -25,10 +25,10 @@
 cmake_minimum_required(VERSION 3.8)
 
 set(PACKAGE_NAME          "grpc")
-set(PACKAGE_VERSION       "1.61.0-pre2")
+set(PACKAGE_VERSION       "1.61.0-pre3")
 set(gRPC_CORE_VERSION     "38.0.0")
 set(gRPC_CORE_SOVERSION   "38")
-set(gRPC_CPP_VERSION      "1.61.0-pre2")
+set(gRPC_CPP_VERSION      "1.61.0-pre3")
 set(gRPC_CPP_SOVERSION    "1.61")
 set(PACKAGE_STRING        "${PACKAGE_NAME} ${PACKAGE_VERSION}")
 set(PACKAGE_TARNAME       "${PACKAGE_NAME}-${PACKAGE_VERSION}")
diff --git a/Makefile b/Makefile
index 120838d0563..e0e1e57c496 100644
--- a/Makefile
+++ b/Makefile
@@ -411,7 +411,7 @@ Q = @
 endif
 
 CORE_VERSION = 38.0.0
-CPP_VERSION = 1.61.0-pre2
+CPP_VERSION = 1.61.0-pre3
 
 CPPFLAGS_NO_ARCH += $(addprefix -I, $(INCLUDES)) $(addprefix -D, $(DEFINES))
 CPPFLAGS += $(CPPFLAGS_NO_ARCH) $(ARCH_FLAGS)
diff --git a/_metadata.py b/_metadata.py
index 3b07ad7c9b4..3c6141c4bc2 100644
--- a/_metadata.py
+++ b/_metadata.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/_metadata.py.template`!!!
 
-__version__ = """1.61.0rc2"""
+__version__ = """1.61.0rc3"""
diff --git a/build_handwritten.yaml b/build_handwritten.yaml
index b6fc6879024..b18f644b1e6 100644
--- a/build_handwritten.yaml
+++ b/build_handwritten.yaml
@@ -16,7 +16,7 @@ settings:
   csharp_major_version: 2
   g_stands_for: grand
   protobuf_version: 3.25.1
-  version: 1.61.0-pre2
+  version: 1.61.0-pre3
 configs:
   asan:
     CC: clang
diff --git a/config.m4 b/config.m4
index 4545144643e..6183858639f 100644
--- a/config.m4
+++ b/config.m4
@@ -1356,7 +1356,7 @@ if test "$PHP_GRPC" != "no"; then
     -D_HAS_EXCEPTIONS=0 -DNOMINMAX -DGRPC_ARES=0 \
     -DGRPC_POSIX_FORK_ALLOW_PTHREAD_ATFORK=1 \
     -DGRPC_XDS_USER_AGENT_NAME_SUFFIX='"\"PHP\""' \
-    -DGRPC_XDS_USER_AGENT_VERSION_SUFFIX='"\"1.61.0RC2\""')
+    -DGRPC_XDS_USER_AGENT_VERSION_SUFFIX='"\"1.61.0RC3\""')
 
   PHP_ADD_BUILD_DIR($ext_builddir/src/core/ext/filters/backend_metrics)
   PHP_ADD_BUILD_DIR($ext_builddir/src/core/ext/filters/census)
diff --git a/gRPC-C++.podspec b/gRPC-C++.podspec
index 4edbfc352fd..9420b00d4d4 100644
--- a/gRPC-C++.podspec
+++ b/gRPC-C++.podspec
@@ -22,7 +22,7 @@
 Pod::Spec.new do |s|
   s.name     = 'gRPC-C++'
   # TODO (mxyan): use version that match gRPC version when pod is stabilized
-  version = '1.61.0-pre2'
+  version = '1.61.0-pre3'
   s.version  = version
   s.summary  = 'gRPC C++ library'
   s.homepage = 'https://grpc.io'
diff --git a/gRPC-Core.podspec b/gRPC-Core.podspec
index 8b9429ca5bb..c8321bdc1fd 100644
--- a/gRPC-Core.podspec
+++ b/gRPC-Core.podspec
@@ -21,7 +21,7 @@
 
 Pod::Spec.new do |s|
   s.name     = 'gRPC-Core'
-  version = '1.61.0-pre2'
+  version = '1.61.0-pre3'
   s.version  = version
   s.summary  = 'Core cross-platform gRPC library, written in C'
   s.homepage = 'https://grpc.io'
diff --git a/gRPC-ProtoRPC.podspec b/gRPC-ProtoRPC.podspec
index 3e54cc99456..9daf8e45c44 100644
--- a/gRPC-ProtoRPC.podspec
+++ b/gRPC-ProtoRPC.podspec
@@ -21,7 +21,7 @@
 
 Pod::Spec.new do |s|
   s.name     = 'gRPC-ProtoRPC'
-  version = '1.61.0-pre2'
+  version = '1.61.0-pre3'
   s.version  = version
   s.summary  = 'RPC library for Protocol Buffers, based on gRPC'
   s.homepage = 'https://grpc.io'
diff --git a/gRPC-RxLibrary.podspec b/gRPC-RxLibrary.podspec
index 9685ab711ea..1e601e1a253 100644
--- a/gRPC-RxLibrary.podspec
+++ b/gRPC-RxLibrary.podspec
@@ -21,7 +21,7 @@
 
 Pod::Spec.new do |s|
   s.name     = 'gRPC-RxLibrary'
-  version = '1.61.0-pre2'
+  version = '1.61.0-pre3'
   s.version  = version
   s.summary  = 'Reactive Extensions library for iOS/OSX.'
   s.homepage = 'https://grpc.io'
diff --git a/gRPC.podspec b/gRPC.podspec
index 881d7fe3f0c..5261cc4b11c 100644
--- a/gRPC.podspec
+++ b/gRPC.podspec
@@ -20,7 +20,7 @@
 
 Pod::Spec.new do |s|
   s.name     = 'gRPC'
-  version = '1.61.0-pre2'
+  version = '1.61.0-pre3'
   s.version  = version
   s.summary  = 'gRPC client library for iOS/OSX'
   s.homepage = 'https://grpc.io'
diff --git a/include/grpcpp/version_info.h b/include/grpcpp/version_info.h
index 48b18fb796a..19381fd92f7 100644
--- a/include/grpcpp/version_info.h
+++ b/include/grpcpp/version_info.h
@@ -21,7 +21,7 @@
 #define GRPC_CPP_VERSION_MAJOR 1
 #define GRPC_CPP_VERSION_MINOR 61
 #define GRPC_CPP_VERSION_PATCH 0
-#define GRPC_CPP_VERSION_TAG "pre2"
-#define GRPC_CPP_VERSION_STRING "1.61.0-pre2"
+#define GRPC_CPP_VERSION_TAG "pre3"
+#define GRPC_CPP_VERSION_STRING "1.61.0-pre3"
 
 #endif  // GRPCPP_VERSION_INFO_H
diff --git a/package.xml b/package.xml
index c8de1a8cd05..f1607d6e24d 100644
--- a/package.xml
+++ b/package.xml
@@ -13,8 +13,8 @@
  <date>2019-09-24</date>
  <time>16:06:07</time>
  <version>
-  <release>1.61.0RC2</release>
-  <api>1.61.0RC2</api>
+  <release>1.61.0RC3</release>
+  <api>1.61.0RC3</api>
  </version>
  <stability>
   <release>beta</release>
diff --git a/src/csharp/build/dependencies.props b/src/csharp/build/dependencies.props
index 18b6d06353a..b8f0f61b101 100644
--- a/src/csharp/build/dependencies.props
+++ b/src/csharp/build/dependencies.props
@@ -1,7 +1,7 @@
 <!-- This file is generated -->
 <Project>
   <PropertyGroup>
-    <GrpcCsharpVersion>2.61.0-pre2</GrpcCsharpVersion>
+    <GrpcCsharpVersion>2.61.0-pre3</GrpcCsharpVersion>
     <GoogleProtobufVersion>3.25.1</GoogleProtobufVersion>
   </PropertyGroup>
 </Project>
diff --git a/src/objective-c/!ProtoCompiler-gRPCCppPlugin.podspec b/src/objective-c/!ProtoCompiler-gRPCCppPlugin.podspec
index 20e34f0f2a1..5ca3d5e3a3a 100644
--- a/src/objective-c/!ProtoCompiler-gRPCCppPlugin.podspec
+++ b/src/objective-c/!ProtoCompiler-gRPCCppPlugin.podspec
@@ -42,7 +42,7 @@ Pod::Spec.new do |s|
   # exclamation mark ensures that other "regular" pods will be able to find it as it'll be installed
   # before them.
   s.name     = '!ProtoCompiler-gRPCCppPlugin'
-  v = '1.61.0-pre2'
+  v = '1.61.0-pre3'
   s.version  = v
   s.summary  = 'The gRPC ProtoC plugin generates C++ files from .proto services.'
   s.description = <<-DESC
diff --git a/src/objective-c/!ProtoCompiler-gRPCPlugin.podspec b/src/objective-c/!ProtoCompiler-gRPCPlugin.podspec
index ad91ee3b947..334cff4e2d8 100644
--- a/src/objective-c/!ProtoCompiler-gRPCPlugin.podspec
+++ b/src/objective-c/!ProtoCompiler-gRPCPlugin.podspec
@@ -42,7 +42,7 @@ Pod::Spec.new do |s|
   # exclamation mark ensures that other "regular" pods will be able to find it as it'll be installed
   # before them.
   s.name     = '!ProtoCompiler-gRPCPlugin'
-  v = '1.61.0-pre2'
+  v = '1.61.0-pre3'
   s.version  = v
   s.summary  = 'The gRPC ProtoC plugin generates Objective-C files from .proto services.'
   s.description = <<-DESC
diff --git a/src/objective-c/GRPCClient/version.h b/src/objective-c/GRPCClient/version.h
index 58ac60500a5..0f240f69d1b 100644
--- a/src/objective-c/GRPCClient/version.h
+++ b/src/objective-c/GRPCClient/version.h
@@ -22,4 +22,4 @@
 // instead. This file can be regenerated from the template by running
 // `tools/buildgen/generate_projects.sh`.
 
-#define GRPC_OBJC_VERSION_STRING @"1.61.0-pre2"
+#define GRPC_OBJC_VERSION_STRING @"1.61.0-pre3"
diff --git a/src/objective-c/tests/version.h b/src/objective-c/tests/version.h
index 72b81a7a64c..7712a912152 100644
--- a/src/objective-c/tests/version.h
+++ b/src/objective-c/tests/version.h
@@ -22,5 +22,5 @@
 // instead. This file can be regenerated from the template by running
 // `tools/buildgen/generate_projects.sh`.
 
-#define GRPC_OBJC_VERSION_STRING @"1.61.0-pre2"
+#define GRPC_OBJC_VERSION_STRING @"1.61.0-pre3"
 #define GRPC_C_VERSION_STRING @"38.0.0"
diff --git a/src/php/ext/grpc/version.h b/src/php/ext/grpc/version.h
index bfbe26a2f59..bc80088c889 100644
--- a/src/php/ext/grpc/version.h
+++ b/src/php/ext/grpc/version.h
@@ -20,6 +20,6 @@
 #ifndef VERSION_H
 #define VERSION_H
 
-#define PHP_GRPC_VERSION "1.61.0RC2"
+#define PHP_GRPC_VERSION "1.61.0RC3"
 
 #endif /* VERSION_H */
diff --git a/src/python/grpcio/grpc/_grpcio_metadata.py b/src/python/grpcio/grpc/_grpcio_metadata.py
index d731bdbe4a6..57a9e04e43b 100644
--- a/src/python/grpcio/grpc/_grpcio_metadata.py
+++ b/src/python/grpcio/grpc/_grpcio_metadata.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio/grpc/_grpcio_metadata.py.template`!!!
 
-__version__ = """1.61.0rc2"""
+__version__ = """1.61.0rc3"""
diff --git a/src/python/grpcio/grpc_version.py b/src/python/grpcio/grpc_version.py
index fb930713af8..03923bdc93e 100644
--- a/src/python/grpcio/grpc_version.py
+++ b/src/python/grpcio/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_admin/grpc_version.py b/src/python/grpcio_admin/grpc_version.py
index 0a1c8981941..c785b1c9357 100644
--- a/src/python/grpcio_admin/grpc_version.py
+++ b/src/python/grpcio_admin/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_admin/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_channelz/grpc_version.py b/src/python/grpcio_channelz/grpc_version.py
index 0b9c41b088c..49dfd1437ff 100644
--- a/src/python/grpcio_channelz/grpc_version.py
+++ b/src/python/grpcio_channelz/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_channelz/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_csds/grpc_version.py b/src/python/grpcio_csds/grpc_version.py
index 540f7d7b004..78f8a64dbcc 100644
--- a/src/python/grpcio_csds/grpc_version.py
+++ b/src/python/grpcio_csds/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_csds/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_health_checking/grpc_version.py b/src/python/grpcio_health_checking/grpc_version.py
index b7b4e27b542..311d3592fc5 100644
--- a/src/python/grpcio_health_checking/grpc_version.py
+++ b/src/python/grpcio_health_checking/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_health_checking/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_observability/grpc_version.py b/src/python/grpcio_observability/grpc_version.py
index fe2ad46ffcb..522b0c7dc1c 100644
--- a/src/python/grpcio_observability/grpc_version.py
+++ b/src/python/grpcio_observability/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_observability/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_reflection/grpc_version.py b/src/python/grpcio_reflection/grpc_version.py
index 44ea672abcc..47b6d1b04f3 100644
--- a/src/python/grpcio_reflection/grpc_version.py
+++ b/src/python/grpcio_reflection/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_reflection/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_status/grpc_version.py b/src/python/grpcio_status/grpc_version.py
index db0de472ec6..15b10138a93 100644
--- a/src/python/grpcio_status/grpc_version.py
+++ b/src/python/grpcio_status/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_status/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_testing/grpc_version.py b/src/python/grpcio_testing/grpc_version.py
index 1ec8d17413e..6e5f4293573 100644
--- a/src/python/grpcio_testing/grpc_version.py
+++ b/src/python/grpcio_testing/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_testing/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/python/grpcio_tests/grpc_version.py b/src/python/grpcio_tests/grpc_version.py
index 74ecd9667dd..66758866aa7 100644
--- a/src/python/grpcio_tests/grpc_version.py
+++ b/src/python/grpcio_tests/grpc_version.py
@@ -14,4 +14,4 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/src/python/grpcio_tests/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
diff --git a/src/ruby/lib/grpc/version.rb b/src/ruby/lib/grpc/version.rb
index da67d023fa7..64409112bd5 100644
--- a/src/ruby/lib/grpc/version.rb
+++ b/src/ruby/lib/grpc/version.rb
@@ -14,5 +14,5 @@
 
 # GRPC contains the General RPC module.
 module GRPC
-  VERSION = '1.61.0.pre2'
+  VERSION = '1.61.0.pre3'
 end
diff --git a/src/ruby/nativedebug/version.rb b/src/ruby/nativedebug/version.rb
index 5bf889d7993..b747b63cab1 100644
--- a/src/ruby/nativedebug/version.rb
+++ b/src/ruby/nativedebug/version.rb
@@ -14,6 +14,6 @@
 
 module GRPC
   module NativeDebug
-    VERSION = '1.61.0.pre2'
+    VERSION = '1.61.0.pre3'
   end
 end
diff --git a/src/ruby/tools/version.rb b/src/ruby/tools/version.rb
index 0a06dc8429b..66af2a9055d 100644
--- a/src/ruby/tools/version.rb
+++ b/src/ruby/tools/version.rb
@@ -14,6 +14,6 @@
 
 module GRPC
   module Tools
-    VERSION = '1.61.0.pre2'
+    VERSION = '1.61.0.pre3'
   end
 end
diff --git a/tools/distrib/python/grpc_version.py b/tools/distrib/python/grpc_version.py
index d87a18039f1..1dc772d8ba2 100644
--- a/tools/distrib/python/grpc_version.py
+++ b/tools/distrib/python/grpc_version.py
@@ -14,5 +14,5 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/tools/distrib/python/grpcio_tools/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
 PROTOBUF_VERSION = '3.25.1'
diff --git a/tools/distrib/python/grpcio_tools/grpc_version.py b/tools/distrib/python/grpcio_tools/grpc_version.py
index 8a377f762d6..88efddbbedc 100644
--- a/tools/distrib/python/grpcio_tools/grpc_version.py
+++ b/tools/distrib/python/grpcio_tools/grpc_version.py
@@ -14,5 +14,5 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/tools/distrib/python/grpcio_tools/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
 PROTOBUF_VERSION = '3.25.1'
diff --git a/tools/distrib/python/xds_protos/grpc_version.py b/tools/distrib/python/xds_protos/grpc_version.py
index f311e7c3dd9..f3b5fe44629 100644
--- a/tools/distrib/python/xds_protos/grpc_version.py
+++ b/tools/distrib/python/xds_protos/grpc_version.py
@@ -14,5 +14,5 @@
 
 # AUTO-GENERATED FROM `$REPO_ROOT/templates/tools/distrib/python/grpcio_tools/grpc_version.py.template`!!!
 
-VERSION = '1.61.0rc2'
+VERSION = '1.61.0rc3'
 PROTOBUF_VERSION = '3.25.1'
diff --git a/tools/doxygen/Doxyfile.c++ b/tools/doxygen/Doxyfile.c++
index 7eefb7ffbaa..dd670f01505 100644
--- a/tools/doxygen/Doxyfile.c++
+++ b/tools/doxygen/Doxyfile.c++
@@ -40,7 +40,7 @@ PROJECT_NAME           = "GRPC C++"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 1.61.0-pre2
+PROJECT_NUMBER         = 1.61.0-pre3
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/tools/doxygen/Doxyfile.c++.internal b/tools/doxygen/Doxyfile.c++.internal
index f128197a43b..7ebe94ddf1d 100644
--- a/tools/doxygen/Doxyfile.c++.internal
+++ b/tools/doxygen/Doxyfile.c++.internal
@@ -40,7 +40,7 @@ PROJECT_NAME           = "GRPC C++"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 1.61.0-pre2
+PROJECT_NUMBER         = 1.61.0-pre3
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/tools/doxygen/Doxyfile.objc b/tools/doxygen/Doxyfile.objc
index 71691f4e621..2b8d1004235 100644
--- a/tools/doxygen/Doxyfile.objc
+++ b/tools/doxygen/Doxyfile.objc
@@ -40,7 +40,7 @@ PROJECT_NAME           = "GRPC Objective-C"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 1.61.0-pre2
+PROJECT_NUMBER         = 1.61.0-pre3
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/tools/doxygen/Doxyfile.objc.internal b/tools/doxygen/Doxyfile.objc.internal
index 29326ca827a..9c727db8815 100644
--- a/tools/doxygen/Doxyfile.objc.internal
+++ b/tools/doxygen/Doxyfile.objc.internal
@@ -40,7 +40,7 @@ PROJECT_NAME           = "GRPC Objective-C"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 1.61.0-pre2
+PROJECT_NUMBER         = 1.61.0-pre3
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a
diff --git a/tools/doxygen/Doxyfile.php b/tools/doxygen/Doxyfile.php
index e680f3773fa..440f92c37e0 100644
--- a/tools/doxygen/Doxyfile.php
+++ b/tools/doxygen/Doxyfile.php
@@ -40,7 +40,7 @@ PROJECT_NAME           = "GRPC PHP"
 # could be handy for archiving the generated documentation or if some version
 # control system is used.
 
-PROJECT_NUMBER         = 1.61.0-pre2
+PROJECT_NUMBER         = 1.61.0-pre3
 
 # Using the PROJECT_BRIEF tag one can provide an optional one line description
 # for a project that appears at the top of each page and should give viewer a