<?xml version="1.0" encoding="UTF-8"?>
<!--ANNAgreement V1.0 (10-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2024-04-30/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Announcement_For_Agreements/2024-04-30/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Announcement_For_Agreements/2024-04-30/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2024-04-30/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2024-04-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">541546</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-11</xbrli:startDate><xbrli:endDate>2026-08-11</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">541546</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-11</xbrli:instant></xbrli:period></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NameOfTheCompany contextRef="MainI">Gayatri Highways Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="MainI">GAYAHWS</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncement contextRef="MainI">Update</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfAgreement contextRef="MainI">Shareholder agreements</in-capmkt:TypeOfAgreement><in-capmkt:StageOfAgreement contextRef="MainI">Revision, Rescission, Amendment or Alteration of agreement</in-capmkt:StageOfAgreement><in-capmkt:AgreementsEnteredIntoBy contextRef="MainD">Listed Entity</in-capmkt:AgreementsEnteredIntoBy><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="MainD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-08-11</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainD">14:30:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfInitialAnnouncement contextRef="MainI">2026-02-12</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="MainI">2026-02-12</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="MainI">2026-08-11</in-capmkt:DateOfReport><in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI">2026-02-12</in-capmkt:DateOfInitialDisclosureOfTheExecutionOfTheAgreementToTheStockExchangeForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:BriefDetailsOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">The Parties wish to amend the Securities Purchase Agreement (SPA) to record their mutual agreement in respect of: (i) the deletion of the Appointment of Trustee, escrow mechanism (including the execution of the Escrow Agreement 1, Escrow Agreement 2 and Escrow Agreement 3,  and the appointment of the Escrow Agent); (ii) the payment of Escrow Amounts 1 and Escrow Amounts 2 to the respective Sellers on the Closing Date or thereafter; (iii) the removal of provisions in relation to the WPI Multiplier Event; and (iv) the amendment of the definition of “Long Stop Date” to reflect the extension thereof to August 31, 2026.
</in-capmkt:BriefDetailsOfRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NumberOfPartiesRelatingToAgreementAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI" unitRef="pure" decimals="0">4</in-capmkt:NumberOfPartiesRelatingToAgreementAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NamesOfPartiesWithWhomTheAgreementIsEnteredAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">Cube Highways and Infrastructure V PTE. Limited (Purchaser) and Kotak Special Situations Fund and the Company (as the Sellers) and HKR Roadways Limited</in-capmkt:NamesOfPartiesWithWhomTheAgreementIsEnteredAfterRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:NatureOfTheAgreementForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">Amendment Agreement</in-capmkt:NatureOfTheAgreementForRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:DateOfExecutionOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainI">2026-08-11</in-capmkt:DateOfExecutionOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement><in-capmkt:DetailsOfImpactOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement contextRef="MainD">The amendments are not expected to have any material adverse impact on the management or control of the Company. The amendments facilitate the completion of the proposed transaction and provide for the revised mechanism for payment of the Escrow Amounts and the extended Long Stop Date.</in-capmkt:DetailsOfImpactOfTheRevisionOrRescissionOrAmendmentOrAlterationOfAgreement></xbrli:xbrl>
