<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--IFFIndAs--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-01-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2025-01-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2025-01-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2025-01-31/in-capmkt-types" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef 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unitRef="INR">418420000</in-capmkt:ComprehensiveIncomeForThePeriod><in-capmkt:PaidUpValueOfEquityShareCapital contextRef="OneD" decimals="-3" unitRef="INR">256041000</in-capmkt:PaidUpValueOfEquityShareCapital><in-capmkt:FaceValueOfEquityShareCapital contextRef="OneD" decimals="INF" unitRef="INRPerShare">5</in-capmkt:FaceValueOfEquityShareCapital><in-capmkt:BasicEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">8.18</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">8.17</in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations><in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">8.18</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">8.17</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1 The unaudited financial results after review by the Audit Committee have been approved and taken on record by the Board of Directors at its meeting held on 11th August 2025 The Statutory Auditors of the Company have carried out a Limited Review of the results for the quarter ended June 30 2025 in terms of Regulation 33 of SEBI Listing Obligations and Disclosures Requirements Regulation 2015 The unaudited financial results are prepared in accordance with the principles of Indian Accounting Standard Ind AS as notified under the Companies Indian Accounting Standard Rules 2015 specified in Section 133 of the Companies Act 2013 &lt;BR&gt; 
 &lt;BR&gt; 
2 The Company is primarily engaged in the business of real estate Hence disclosure of segmentwise information is not required as per Ind AS 108 &lt;BR&gt; 
 &lt;BR&gt; 
3 The figures of the previous quarter ie three months ended March 31 2025 are the balancing figures between the audited figures in the full financial year and the published year to date figures up to the third quarter of the financial years which have been subject to limited review &lt;BR&gt; 
 &lt;BR&gt; 
4 The Board of Directors of the Company at its meeting held on 31st March 2025 approved the Composite Scheme of Amalgamation and Arrangement amongst Matrix Water Management Private Limited Sanvo Resorts Private Limited Marathon Realty Private Limited Matrix Enclaves Projects Developments Private Limited Matrix Land Hub Private Limited Marathon Nextgen Realty Limited Marathon Energy Private Limited and their respective shareholders and creditors under Sections 230 to 232 and other applicable sections and provisions of the Companies Act 2013 Scheme The said Scheme of Amalgamation with an Appointed Date of January 1 2025 is subject to the requisite approvals and sanction of the jurisdictional bench of National Company Law Tribunal NCLT and subject to the approval of shareholders andor creditors of the Company Central Government or such other competent authorities as may be directed by the NCLT The said scheme will be filed with NCLT once No objection certificates are received from the stock exchanges ie BSE and NSE &lt;BR&gt; 
 &lt;BR&gt; 
5 Pursuant to the approval of the members of the Company through Postal Ballot on December 14 2024 the Company under the Qualified Institutional Placement QIP has raised the Rs 8999999 Lakhs on 30th June 2025 and allotted 16212406 number of equity shares having face value of Rs 5 per share at Rs 55513 per share including premium of Rs 55013 per share on 1st July 2025 The issue price as approved by the operations committee of the Company is at discount of Rs 2921 per share ie 5 percent on floor price as determined in terms of SEBI ICDR Regulations &lt;BR&gt; 
 &lt;BR&gt; 
6 Figures for the previous period are reclassified rearranged regrouped wherever necessary &lt;BR&gt; 
 &lt;BR&gt; 
</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Property development expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-3" unitRef="INR">176531000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses2D">Other expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses2D" decimals="-4" unitRef="INR">55740000</in-capmkt:OtherExpenses><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-3" unitRef="INR">403000</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-3" unitRef="INR">-101000</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-3" unitRef="INR">-302000</in-capmkt:OtherComprehensiveIncome><in-capmkt:ModeOfFundRaising contextRef="StatementStatic1I">QIP</in-capmkt:ModeOfFundRaising><in-capmkt:DateOfFundsRaising contextRef="StatementStatic1I">2025-06-30</in-capmkt:DateOfFundsRaising><in-capmkt:AmountRaised contextRef="StatementStatic1I" decimals="-5" unitRef="INR">900000000</in-capmkt:AmountRaised><in-capmkt:DateOfEndOfReportingPeriod contextRef="StatementStatic1D">2025-06-30</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:MonitoringAgency contextRef="StatementStatic1D">true</in-capmkt:MonitoringAgency><in-capmkt:NameOfMonitoringAgency contextRef="StatementStatic1I">Ratings &amp; Research Private Limited</in-capmkt:NameOfMonitoringAgency><in-capmkt:IsThereADeviationOrVariationInUseOfFundsRaised contextRef="StatementStatic1D">false</in-capmkt:IsThereADeviationOrVariationInUseOfFundsRaised><in-capmkt:ExplanationForTheDeviationOrVariation contextRef="StatementStatic1I">NA</in-capmkt:ExplanationForTheDeviationOrVariation><in-capmkt:CommentsOfTheAuditCommitteeAfterReview contextRef="StatementStatic1I">NA</in-capmkt:CommentsOfTheAuditCommitteeAfterReview><in-capmkt:CommentsOfTheAuditors contextRef="StatementStatic1I">NA</in-capmkt:CommentsOfTheAuditors><in-capmkt:NameOfSignatoryOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneD">Suyash Bhise</in-capmkt:NameOfSignatoryOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised><in-capmkt:DesignationOfPersonOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneD">Chief Financial Officer</in-capmkt:DesignationOfPersonOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised><in-capmkt:PlaceOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneD">Mumbai</in-capmkt:PlaceOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised><in-capmkt:DateOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneI">2025-08-11</in-capmkt:DateOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised></xbrli:xbrl>