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<!--ABRC V1.0 (20-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2025-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Awarding_Or_Bagging_Or_Receiving_Of_Orders_Or_Contracts/2025-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Awarding_Or_Bagging_Or_Receiving_Of_Orders_Or_Contracts/2025-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="https://www.sebi.gov.in/xbrl/2025-05-31/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-2025-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">GANESHIN</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-04-25</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AmendmentOrTerminationOfOrdersOrContracts"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">GANESHIN</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-04-25</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:AwardingOrBaggingOrReceivingOfOrdersOrContractsAxis">in-capmkt:AmendmentOrTerminationOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">GANESHIN</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Ganesh Infraworld Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">000000</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE0TVT01024</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">Update</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfEvent contextRef="MainI">Amendment or termination of orders/contracts</in-capmkt:TypeOfEvent><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-04-25</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainI">21:06:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfInitialAnnouncement contextRef="MainI">2025-09-02</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="MainI">2026-04-25</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="MainI">2026-04-25</in-capmkt:DateOfReport><in-capmkt:NameOfPartiesToTheOrdersOrContracts contextRef="I_AmendmentOrTerminationOfOrdersOrContracts">Kandoi Transport Limited</in-capmkt:NameOfPartiesToTheOrdersOrContracts><in-capmkt:NatureOfOrdersOrContracts contextRef="I_AmendmentOrTerminationOfOrdersOrContracts">Receipt of an order aggregating to Rs. 708 Cr. for comprehensive Operation &amp; Maintenance of heavy mining equipment at the Nigahi Mine, Singrauli, Madhya Pradesh for a period of 24 months, on a subcontract basis</in-capmkt:NatureOfOrdersOrContracts><in-capmkt:DateOfExecutionOfTheOrdersOrContracts contextRef="I_AmendmentOrTerminationOfOrdersOrContracts">2025-09-02</in-capmkt:DateOfExecutionOfTheOrdersOrContracts><in-capmkt:DateOfTerminationOrAmendmentOfTheOrdersOrContracts contextRef="I_AmendmentOrTerminationOfOrdersOrContracts">2026-04-25</in-capmkt:DateOfTerminationOrAmendmentOfTheOrdersOrContracts><in-capmkt:DetailsOfAmendmentOrReasonsForTerminationsAndImpactOfTheOrdersOrContracts contextRef="I_AmendmentOrTerminationOfOrdersOrContracts">Company has acquired 60% equity stake in Kandoi, pursuant to which Kandoi has become subsidiary. Post acquisition, a strategic review of operations has been undertaken. The Company has executed till date order of Rs. 139.59 Cr. In order to enhance operational efficiency and streamline execution, it has been decided that the balance unexecuted portion of the contract of Rs. 568.41 Cr. shall be executed directly by Kandoi.</in-capmkt:DetailsOfAmendmentOrReasonsForTerminationsAndImpactOfTheOrdersOrContracts></xbrli:xbrl>
