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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-11-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Changes_In_Management/2025-11-30/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2025-11-30/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.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-11-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier 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id="D_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500400</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-11-11</xbrli:startDate><xbrli:endDate>2026-11-11</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">TATAPOWER</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Tata Power Company Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">500400</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN 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contextRef="MainI">2026-11-11</in-capmkt:DateOfReport><in-capmkt:TypeOfChange contextRef="D_ChangeInManagement1">Appointment</in-capmkt:TypeOfChange><in-capmkt:CategoryForChange contextRef="D_ChangeInManagement1">Director</in-capmkt:CategoryForChange><in-capmkt:DesignationOfDesignatedPerson contextRef="D_ChangeInManagement1">Executive Director</in-capmkt:DesignationOfDesignatedPerson><in-capmkt:PositionOfDirectorInBoardTwo contextRef="D_ChangeInManagement1">Not Applicable</in-capmkt:PositionOfDirectorInBoardTwo><in-capmkt:PositionOfDirectorInBoardThree contextRef="D_ChangeInManagement1">Not Applicable</in-capmkt:PositionOfDirectorInBoardThree><in-capmkt:SalutationOfDesignatedPerson contextRef="D_ChangeInManagement1">Mr.</in-capmkt:SalutationOfDesignatedPerson><in-capmkt:NameOfDesignatedPerson contextRef="I_ChangeInManagement1">Sanjay Kumar Banga</in-capmkt:NameOfDesignatedPerson><in-capmkt:EffectiveDateOfReasonOfChange contextRef="I_ChangeInManagement1">2026-11-11</in-capmkt:EffectiveDateOfReasonOfChange><in-capmkt:TermOfAppointmentInMonths contextRef="D_ChangeInManagement1" unitRef="pure" decimals="INF">60</in-capmkt:TermOfAppointmentInMonths><in-capmkt:BriefProfile contextRef="D_ChangeInManagement1">Mr. Sanjay Banga is the Chief Executive Officer and Managing Director of Tata Power Renewable Energy Limited and currently holds the position of President – Renewables of The Tata Power Company Limited (“Tata Power”).
Mr. Banga previously served as President of the Transmission and Distribution businesses. His responsibilities included the performance of distribution companies across Odisha, Mumbai, Delhi and Ajmer; the Mumbai transmission business; Powerlinks Transmission Limited; and transmission assets in Uttar Pradesh.
Mr. Banga also served as the Chief Executive Officer of Tata Power Delhi Distribution Limited (TPDDL), a notable Public-Private Partnership (JV) between Tata Power and the Government of the National Capital Territory of Delhi.
Mr. Banga began his career as an Engineer Trainee at National Thermal Power Corporation Limited (NTPC), where he was involved in the operation and commissioning of super thermal power projects from 1989 to 1995. Before joining TPDDL in 2003, he worked with Reliance Energy (formerly BSES Limited) from 1996 to 2003, with responsibilities covering operations, maintenance, planning, design and project engineering for thermal power projects.
Mr. Banga is a power-sector professional with more than three decades of experience across the operational and commercial management of distribution companies, business development, digital transformation, project management, change management, regulatory advocacy and stakeholder management. His experience with public- and private-sector electricity utilities in India has provided him with a broad understanding of the challenges facing the electricity distribution sector. He is also a regular speaker at seminars, workshops and panel discussions in India and abroad.
Mr. Banga is an alumnus of the National Institute of Technology, Kurukshetra, and holds a Master of Business Administration degree from the Faculty of Management Studies, University of Delhi. He has also completed the Senior Executive Leadership Program at Harvard Business School and holds alumni status.</in-capmkt:BriefProfile><in-capmkt:DisclosureOfRelationshipsBetweenDirectorsInCaseOfAppointmentOfDirector contextRef="D_ChangeInManagement1">Not Related</in-capmkt:DisclosureOfRelationshipsBetweenDirectorsInCaseOfAppointmentOfDirector><in-capmkt:AffirmationThatThePersonProposedToBeAppointedAsDirectorIsNotDebarredFromHoldingTheOfficeByVirtueOfAnySEBIOrderOrAnyOtherAuthority contextRef="D_ChangeInManagement1">true</in-capmkt:AffirmationThatThePersonProposedToBeAppointedAsDirectorIsNotDebarredFromHoldingTheOfficeByVirtueOfAnySEBIOrderOrAnyOtherAuthority><in-capmkt:WhetherTheDirectorBeingAppointedIsDisqualifiedFromHoldingTheOfficeOfDirectorPursuantToProvisionsOfSection164OfTheCompaniesAct2013 contextRef="D_ChangeInManagement1">false</in-capmkt:WhetherTheDirectorBeingAppointedIsDisqualifiedFromHoldingTheOfficeOfDirectorPursuantToProvisionsOfSection164OfTheCompaniesAct2013></xbrli:xbrl>
