<?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">389310000</in-capmkt:ComprehensiveIncomeForThePeriod><in-capmkt:ProfitOrLossAttributableToOwnersOfParent contextRef="OneD" decimals="-4" unitRef="INR">388070000</in-capmkt:ProfitOrLossAttributableToOwnersOfParent><in-capmkt:ProfitOrLossAttributableToNonControllingInterests contextRef="OneD" decimals="-4" unitRef="INR">1240000</in-capmkt:ProfitOrLossAttributableToNonControllingInterests><in-capmkt:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParent contextRef="OneD" decimals="-4" unitRef="INR">388070000</in-capmkt:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParent><in-capmkt:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParentNonControllingInterests contextRef="OneD" decimals="-4" unitRef="INR">1240000</in-capmkt:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParentNonControllingInterests><in-capmkt:PaidUpValueOfEquityShareCapital contextRef="OneD" decimals="-6" unitRef="INR">176000000</in-capmkt:PaidUpValueOfEquityShareCapital><in-capmkt:FaceValueOfEquityShareCapital contextRef="OneD" decimals="INF" unitRef="INRPerShare">1</in-capmkt:FaceValueOfEquityShareCapital><in-capmkt:BasicEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">2.2</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">2.2</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">2.2</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">2.2</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DebtEquityRatio contextRef="OneD" decimals="INF" unitRef="pure">0.0043</in-capmkt:DebtEquityRatio><in-capmkt:DebtServiceCoverageRatio contextRef="OneD" decimals="INF" unitRef="pure">0.0482</in-capmkt:DebtServiceCoverageRatio><in-capmkt:InterestServiceCoverageRatio contextRef="OneD" decimals="INF" unitRef="pure">0.0631</in-capmkt:InterestServiceCoverageRatio><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">Notes: &lt;BR&gt; 
The above consolidated results have been prepared in accordance with Indian Accounting Standard Ind AS notified under Section 133 of the Companies Act 2013 read together with the Companies Indian Accounting Standards Rules 2015 as amended.				 &lt;BR&gt; 
The consolidated financial statements of the Company for the quarter ended 30th June 2025 include total income of Rs. 429.13  millions of  Ms Dolat Tradecorp.				 &lt;BR&gt; 
The above results for the quarter ended 30th June 2025 were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 13082025 and have undergone Limited Review by the Statutory Auditors of the Company.				 &lt;BR&gt; 
The parent company and its subsidiary is engaged primarily in the business of trading in shares and securities and there are no separate reportable segments as per Indian Accounting Standards Ind AS 108 dealing with segment reporting.				 &lt;BR&gt; 
The results for the quarter ended June 30 2025 are available on the BSE Limited website www.bseindia.com The National Stock Exchange of India Ltd. website www.nseindia.com and the companys website  www.dolatalgotech.in				 &lt;BR&gt; 
Previous period figures have been regrouped rearranged wherever considered necessary.				</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Securities Transaction Tax</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-4" unitRef="INR">342520000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses2D">Transaction Charges</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses2D" decimals="-5" unitRef="INR">46900000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses3D">Other expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses3D" decimals="-4" unitRef="INR">41040000</in-capmkt:OtherExpenses><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:OtherComprehensiveIncome></xbrli:xbrl>