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L10 ordering at low temperature and controlled grain size are prerequisites for the fabrication of magnetic recording media. This can be achieved by several methods such as addition, under layer or over layer of third element in FePt. In the present work, the kinetics of L10 ordering in the presence of immiscible element Au is investigated by varying the Au concentration at different annealing temperatures. The structural analysis shows that the Au additive not only promotes the ordering at low temperature but also supports the textured growth along (001) plane. The magnetic measurements supported by theoretical simulations using Monte Carlo predicts that the enhancement in coercivity attributed to induced strain anisotropy and weakening of inter-granular exchange coupling may be due to presence of Au at grain boundaries.