<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--IFIndAs V1.2 (22-01-2026)--><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 xlink:href="in-capmkt-ent-2025-01-31.xsd" xlink:type="simple"/><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-12-31</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="FourD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="OneExpenses1D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneExpenses2D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses2Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneExpenses3D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses3Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="FourExpenses1D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="FourExpenses2D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses2Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="FourExpenses3D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:DetailsOfOtherExpensesAxis">in-capmkt:OtherExpenses3Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneReportable1D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentsAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="FourReportable1D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentsAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneReportableFinance1D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentsFinanceCostsAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="FourReportableFinance1D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentsFinanceCostsAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneReportable31D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentAssetsAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneReportable31I"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-12-31</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentAssetsAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneReportable41D"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentLiabilitiesAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="OneReportable41I"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2025-12-31</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:ReportableSegmentLiabilitiesAxis">in-capmkt:ReportableSegments1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-10-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossAxis"><in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain>ItemsThatWillNotBeReclassifiedToProfitAndLoss1</in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss41"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542399</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-04-01</xbrli:startDate><xbrli:endDate>2025-12-31</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossAxis"><in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain>ItemsThatWillNotBeReclassifiedToProfitAndLoss1</in-capmkt:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><xbrli:unit id="INRPerShare"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit><in-capmkt:ScripCode contextRef="OneD">542399</in-capmkt:ScripCode><in-capmkt:Symbol contextRef="OneD">CHALET</in-capmkt:Symbol><in-capmkt:MSEISymbol contextRef="OneD">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneD">INE427F01016</in-capmkt:ISIN><in-capmkt:NameOfTheCompany contextRef="OneD">Chalet Hotels Limited</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfCompany contextRef="OneD">Main Board</in-capmkt:TypeOfCompany><in-capmkt:ClassOfSecurity contextRef="OneD">Equity</in-capmkt:ClassOfSecurity><in-capmkt:DateOfStartOfFinancialYear contextRef="OneD">2025-04-01</in-capmkt:DateOfStartOfFinancialYear><in-capmkt:DateOfEndOfFinancialYear contextRef="OneD">2026-03-31</in-capmkt:DateOfEndOfFinancialYear><in-capmkt:DateOfBoardMeetingWhenFinancialResultsWereApproved contextRef="OneD">2026-02-02</in-capmkt:DateOfBoardMeetingWhenFinancialResultsWereApproved><in-capmkt:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange contextRef="OneD">2026-01-27</in-capmkt:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange><in-capmkt:DescriptionOfPresentationCurrency contextRef="OneD">INR</in-capmkt:DescriptionOfPresentationCurrency><in-capmkt:LevelOfRounding contextRef="OneD">Millions</in-capmkt:LevelOfRounding><in-capmkt:TypeOfReportingPeriod contextRef="OneD">Quarterly</in-capmkt:TypeOfReportingPeriod><in-capmkt:ReportingQuarter contextRef="OneD">Third quarter</in-capmkt:ReportingQuarter><in-capmkt:IsCompanyReportingMultisegmentOrSingleSegment contextRef="OneD">Multi segment</in-capmkt:IsCompanyReportingMultisegmentOrSingleSegment><in-capmkt:DateOfStartOfBoardMeeting contextRef="OneD">2026-02-02</in-capmkt:DateOfStartOfBoardMeeting><in-capmkt:StartTimeOfBoardMeeting contextRef="OneD">14:40:00</in-capmkt:StartTimeOfBoardMeeting><in-capmkt:DateOfEndOfBoardMeeting contextRef="OneD">2026-02-02</in-capmkt:DateOfEndOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">15:45:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DeclarationOfUnmodifiedOpinionOrStatementOnImpactOfAuditQualification contextRef="OneD">Not applicable</in-capmkt:DeclarationOfUnmodifiedOpinionOrStatementOnImpactOfAuditQualification><in-capmkt:WhetherStatementOnDeviationOrVariationForProceedsOfPublicIssueOrRightIssueOrPreferentialIssueOrQIPEtcIsApplicableToTheCompanyForTheCurrentQuarter contextRef="OneD">false</in-capmkt:WhetherStatementOnDeviationOrVariationForProceedsOfPublicIssueOrRightIssueOrPreferentialIssueOrQIPEtcIsApplicableToTheCompanyForTheCurrentQuarter><in-capmkt:WhetherTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesIsApplicableToTheEntity contextRef="OneD">false</in-capmkt:WhetherTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesIsApplicableToTheEntity><in-capmkt:NoteForNonApplicabilityOfTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesToTheEntity contextRef="OneD">Not Applicable</in-capmkt:NoteForNonApplicabilityOfTheDisclosureForTheDefaultOnLoansAndDebtSecuritiesToTheEntity><in-capmkt:DateOfStartOfReportingPeriod contextRef="OneD">2025-10-01</in-capmkt:DateOfStartOfReportingPeriod><in-capmkt:DateOfEndOfReportingPeriod contextRef="OneD">2025-12-31</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:WhetherResultsAreAuditedOrUnaudited contextRef="OneD">Unaudited</in-capmkt:WhetherResultsAreAuditedOrUnaudited><in-capmkt:NatureOfReportStandaloneConsolidated contextRef="OneD">Standalone</in-capmkt:NatureOfReportStandaloneConsolidated><in-capmkt:RevenueFromOperations contextRef="OneD" decimals="-4" unitRef="INR">5157360000</in-capmkt:RevenueFromOperations><in-capmkt:OtherIncome contextRef="OneD" decimals="-4" unitRef="INR">152670000</in-capmkt:OtherIncome><in-capmkt:Income contextRef="OneD" decimals="-4" unitRef="INR">5310030000</in-capmkt:Income><in-capmkt:CostOfMaterialsConsumed contextRef="OneD" decimals="-4" unitRef="INR">316110000</in-capmkt:CostOfMaterialsConsumed><in-capmkt:PurchasesOfStockInTrade contextRef="OneD" decimals="-5" unitRef="INR">113100000</in-capmkt:PurchasesOfStockInTrade><in-capmkt:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade contextRef="OneD" decimals="-4" unitRef="INR">-64870000</in-capmkt:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade><in-capmkt:EmployeeBenefitExpense contextRef="OneD" decimals="-4" unitRef="INR">633720000</in-capmkt:EmployeeBenefitExpense><in-capmkt:FinanceCosts contextRef="OneD" decimals="-4" unitRef="INR">405320000</in-capmkt:FinanceCosts><in-capmkt:DepreciationDepletionAndAmortisationExpense contextRef="OneD" decimals="-4" unitRef="INR">458770000</in-capmkt:DepreciationDepletionAndAmortisationExpense><in-capmkt:OtherExpenses contextRef="OneD" decimals="-4" unitRef="INR">1761860000</in-capmkt:OtherExpenses><in-capmkt:Expenses contextRef="OneD" decimals="-4" unitRef="INR">3624010000</in-capmkt:Expenses><in-capmkt:ProfitBeforeExceptionalItemsAndTax contextRef="OneD" decimals="-4" unitRef="INR">1686020000</in-capmkt:ProfitBeforeExceptionalItemsAndTax><in-capmkt:ExceptionalItemsBeforeTax contextRef="OneD" decimals="-4" unitRef="INR">-10030000</in-capmkt:ExceptionalItemsBeforeTax><in-capmkt:ProfitBeforeTax contextRef="OneD" decimals="-4" unitRef="INR">1675990000</in-capmkt:ProfitBeforeTax><in-capmkt:CurrentTax contextRef="OneD" decimals="-4" unitRef="INR">114280000</in-capmkt:CurrentTax><in-capmkt:DeferredTax contextRef="OneD" decimals="-4" unitRef="INR">296370000</in-capmkt:DeferredTax><in-capmkt:TaxExpense contextRef="OneD" decimals="-4" unitRef="INR">410650000</in-capmkt:TaxExpense><in-capmkt:NetMovementInRegulatoryDeferralAccountBalancesRelatedToProfitOrLossAndTheRelatedDeferredTaxMovement contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:NetMovementInRegulatoryDeferralAccountBalancesRelatedToProfitOrLossAndTheRelatedDeferredTaxMovement><in-capmkt:ProfitLossForPeriodFromContinuingOperations contextRef="OneD" decimals="-4" unitRef="INR">1265340000</in-capmkt:ProfitLossForPeriodFromContinuingOperations><in-capmkt:ProfitLossFromDiscontinuedOperationsBeforeTax contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:ProfitLossFromDiscontinuedOperationsBeforeTax><in-capmkt:TaxExpenseOfDiscontinuedOperations contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:TaxExpenseOfDiscontinuedOperations><in-capmkt:ProfitLossFromDiscontinuedOperationsAfterTax contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:ProfitLossFromDiscontinuedOperationsAfterTax><in-capmkt:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod><in-capmkt:ProfitLossForPeriod contextRef="OneD" decimals="-4" unitRef="INR">1265340000</in-capmkt:ProfitLossForPeriod><in-capmkt:OtherComprehensiveIncomeNetOfTaxes contextRef="OneD" decimals="-4" unitRef="INR">4250000</in-capmkt:OtherComprehensiveIncomeNetOfTaxes><in-capmkt:ComprehensiveIncomeForThePeriod contextRef="OneD" decimals="-4" unitRef="INR">1269590000</in-capmkt:ComprehensiveIncomeForThePeriod><in-capmkt:PaidUpValueOfEquityShareCapital contextRef="OneD" decimals="-4" unitRef="INR">2187530000</in-capmkt:PaidUpValueOfEquityShareCapital><in-capmkt:FaceValueOfEquityShareCapital contextRef="OneD" decimals="INF" unitRef="INRPerShare">10</in-capmkt:FaceValueOfEquityShareCapital><in-capmkt:BasicEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">5.79</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">5.77</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">5.79</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">5.77</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DebtEquityRatio contextRef="OneD" decimals="INF" unitRef="pure">0.0059</in-capmkt:DebtEquityRatio><in-capmkt:DebtServiceCoverageRatio contextRef="OneD" decimals="INF" unitRef="pure">0.0168</in-capmkt:DebtServiceCoverageRatio><in-capmkt:InterestServiceCoverageRatio contextRef="OneD" decimals="INF" unitRef="pure">0.0629</in-capmkt:InterestServiceCoverageRatio><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">Current tax includes Current Tax for earlier year and net of mat credit. &lt;BR&gt; 
 &lt;BR&gt; 
The detailed notes to Financial Results are submitted along with the Outcome of the Board Meeting held on 02 February 2026 containing the Financial Results for the quarter and nine months ended December 31, 2025. &lt;BR&gt; 
  &lt;BR&gt; 
Other ratios under Regulation 52 are disclosed in the Financial Results submitted to the Stock Exchanges</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DateOfStartOfReportingPeriod contextRef="FourD">2025-04-01</in-capmkt:DateOfStartOfReportingPeriod><in-capmkt:DateOfEndOfReportingPeriod contextRef="FourD">2025-12-31</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:WhetherResultsAreAuditedOrUnaudited contextRef="FourD">Unaudited</in-capmkt:WhetherResultsAreAuditedOrUnaudited><in-capmkt:NatureOfReportStandaloneConsolidated contextRef="FourD">Standalone</in-capmkt:NatureOfReportStandaloneConsolidated><in-capmkt:RevenueFromOperations contextRef="FourD" decimals="-4" unitRef="INR">20718110000</in-capmkt:RevenueFromOperations><in-capmkt:OtherIncome contextRef="FourD" decimals="-4" unitRef="INR">498620000</in-capmkt:OtherIncome><in-capmkt:Income contextRef="FourD" decimals="-4" unitRef="INR">21216730000</in-capmkt:Income><in-capmkt:CostOfMaterialsConsumed contextRef="FourD" decimals="-4" unitRef="INR">850430000</in-capmkt:CostOfMaterialsConsumed><in-capmkt:PurchasesOfStockInTrade contextRef="FourD" decimals="-4" unitRef="INR">291730000</in-capmkt:PurchasesOfStockInTrade><in-capmkt:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade contextRef="FourD" decimals="-4" unitRef="INR">3136790000</in-capmkt:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade><in-capmkt:EmployeeBenefitExpense contextRef="FourD" decimals="-4" unitRef="INR">1841290000</in-capmkt:EmployeeBenefitExpense><in-capmkt:FinanceCosts contextRef="FourD" decimals="-4" unitRef="INR">1238630000</in-capmkt:FinanceCosts><in-capmkt:DepreciationDepletionAndAmortisationExpense contextRef="FourD" decimals="-4" unitRef="INR">1347470000</in-capmkt:DepreciationDepletionAndAmortisationExpense><in-capmkt:OtherExpenses contextRef="FourD" decimals="-4" unitRef="INR">5886230000</in-capmkt:OtherExpenses><in-capmkt:Expenses contextRef="FourD" decimals="-4" unitRef="INR">14592570000</in-capmkt:Expenses><in-capmkt:ProfitBeforeExceptionalItemsAndTax contextRef="FourD" decimals="-4" unitRef="INR">6624160000</in-capmkt:ProfitBeforeExceptionalItemsAndTax><in-capmkt:ExceptionalItemsBeforeTax contextRef="FourD" decimals="-4" unitRef="INR">-10030000</in-capmkt:ExceptionalItemsBeforeTax><in-capmkt:ProfitBeforeTax contextRef="FourD" decimals="-4" unitRef="INR">6614130000</in-capmkt:ProfitBeforeTax><in-capmkt:CurrentTax contextRef="FourD" decimals="-4" unitRef="INR">450960000</in-capmkt:CurrentTax><in-capmkt:DeferredTax contextRef="FourD" decimals="-4" unitRef="INR">1177310000</in-capmkt:DeferredTax><in-capmkt:TaxExpense contextRef="FourD" decimals="-4" unitRef="INR">1628270000</in-capmkt:TaxExpense><in-capmkt:NetMovementInRegulatoryDeferralAccountBalancesRelatedToProfitOrLossAndTheRelatedDeferredTaxMovement contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:NetMovementInRegulatoryDeferralAccountBalancesRelatedToProfitOrLossAndTheRelatedDeferredTaxMovement><in-capmkt:ProfitLossForPeriodFromContinuingOperations contextRef="FourD" decimals="-4" unitRef="INR">4985860000</in-capmkt:ProfitLossForPeriodFromContinuingOperations><in-capmkt:ProfitLossFromDiscontinuedOperationsBeforeTax contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:ProfitLossFromDiscontinuedOperationsBeforeTax><in-capmkt:TaxExpenseOfDiscontinuedOperations contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:TaxExpenseOfDiscontinuedOperations><in-capmkt:ProfitLossFromDiscontinuedOperationsAfterTax contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:ProfitLossFromDiscontinuedOperationsAfterTax><in-capmkt:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod><in-capmkt:ProfitLossForPeriod contextRef="FourD" decimals="-4" unitRef="INR">4985860000</in-capmkt:ProfitLossForPeriod><in-capmkt:OtherComprehensiveIncomeNetOfTaxes contextRef="FourD" decimals="-4" unitRef="INR">1740000</in-capmkt:OtherComprehensiveIncomeNetOfTaxes><in-capmkt:ComprehensiveIncomeForThePeriod contextRef="FourD" decimals="-5" unitRef="INR">4987600000</in-capmkt:ComprehensiveIncomeForThePeriod><in-capmkt:PaidUpValueOfEquityShareCapital contextRef="FourD" decimals="-4" unitRef="INR">2187530000</in-capmkt:PaidUpValueOfEquityShareCapital><in-capmkt:FaceValueOfEquityShareCapital contextRef="FourD" decimals="INF" unitRef="INRPerShare">10</in-capmkt:FaceValueOfEquityShareCapital><in-capmkt:BasicEarningsLossPerShareFromContinuingOperations contextRef="FourD" decimals="INF" unitRef="INRPerShare">22.81</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="FourD" decimals="INF" unitRef="INRPerShare">22.77</in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations><in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="FourD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="FourD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="FourD" decimals="INF" unitRef="INRPerShare">22.81</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="FourD" decimals="INF" unitRef="INRPerShare">22.77</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DebtEquityRatio contextRef="FourD" decimals="INF" unitRef="pure">0.0059</in-capmkt:DebtEquityRatio><in-capmkt:DebtServiceCoverageRatio contextRef="FourD" decimals="INF" unitRef="pure">0.0201</in-capmkt:DebtServiceCoverageRatio><in-capmkt:InterestServiceCoverageRatio contextRef="FourD" decimals="INF" unitRef="pure">0.0744</in-capmkt:InterestServiceCoverageRatio><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Power and fuel</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-4" unitRef="INR">195820000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses2D">Cost of materials consumed - real estate</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses2D" decimals="-4" unitRef="INR">138760000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses3D">Other expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses3D" decimals="-4" unitRef="INR">1427280000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="FourExpenses1D">Power and fuel</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="FourExpenses1D" decimals="-5" unitRef="INR">615600000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="FourExpenses2D">Cost of materials consumed - real estate</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="FourExpenses2D" decimals="-4" unitRef="INR">1230680000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfOtherExpenses contextRef="FourExpenses3D">Other expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="FourExpenses3D" decimals="-4" unitRef="INR">4039950000</in-capmkt:OtherExpenses><in-capmkt:DescriptionOfReportableSegment contextRef="OneReportable1D">Not Applicable</in-capmkt:DescriptionOfReportableSegment><in-capmkt:SegmentRevenue contextRef="OneReportable1D" decimals="-6" unitRef="INR">0</in-capmkt:SegmentRevenue><in-capmkt:DescriptionOfReportableSegment contextRef="FourReportable1D">Not Applicable</in-capmkt:DescriptionOfReportableSegment><in-capmkt:SegmentRevenue contextRef="FourReportable1D" decimals="-6" unitRef="INR">0</in-capmkt:SegmentRevenue><in-capmkt:SegmentRevenue contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentRevenue><in-capmkt:SegmentRevenue contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentRevenue><in-capmkt:SegmentRevenueFromOperations contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentRevenueFromOperations><in-capmkt:SegmentRevenueFromOperations contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentRevenueFromOperations><in-capmkt:DescriptionOfReportableSegment contextRef="OneReportableFinance1D">Not Applicable</in-capmkt:DescriptionOfReportableSegment><in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts contextRef="OneReportableFinance1D" decimals="-6" unitRef="INR">0</in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts><in-capmkt:DescriptionOfReportableSegment contextRef="FourReportableFinance1D">Not Applicable</in-capmkt:DescriptionOfReportableSegment><in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts contextRef="FourReportableFinance1D" decimals="-6" unitRef="INR">0</in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts><in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts><in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentProfitLossBeforeTaxAndFinanceCosts><in-capmkt:SegmentProfitBeforeTax contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentProfitBeforeTax><in-capmkt:SegmentProfitBeforeTax contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:SegmentProfitBeforeTax><in-capmkt:DescriptionOfReportableSegment contextRef="OneReportable31D">Not Applicable</in-capmkt:DescriptionOfReportableSegment><in-capmkt:SegmentAssets contextRef="OneReportable31I" decimals="-6" unitRef="INR">0</in-capmkt:SegmentAssets><in-capmkt:SegmentAssets contextRef="OneI" decimals="-6" unitRef="INR">0</in-capmkt:SegmentAssets><in-capmkt:UnAllocableAssets contextRef="OneI" decimals="-6" unitRef="INR">0</in-capmkt:UnAllocableAssets><in-capmkt:NetSegmentAssets contextRef="OneI" decimals="-6" unitRef="INR">0</in-capmkt:NetSegmentAssets><in-capmkt:DescriptionOfReportableSegment contextRef="OneReportable41D">Not Applicable</in-capmkt:DescriptionOfReportableSegment><in-capmkt:SegmentLiabilities contextRef="OneReportable41I" decimals="-6" unitRef="INR">0</in-capmkt:SegmentLiabilities><in-capmkt:SegmentLiabilities contextRef="OneI" decimals="-6" unitRef="INR">0</in-capmkt:SegmentLiabilities><in-capmkt:UnAllocableLiabilities contextRef="OneI" decimals="-6" unitRef="INR">0</in-capmkt:UnAllocableLiabilities><in-capmkt:NetSegmentLiabilities contextRef="OneI" decimals="-6" unitRef="INR">0</in-capmkt:NetSegmentLiabilities><in-capmkt:DisclosureOfNotesOnSegmentsExplanatoryTextBlock contextRef="OneD">As per the exemption under Ind AS 108 Operating Segments, the disclosure for the segment reporting has been presented as part of the consolidated financial statements.</in-capmkt:DisclosureOfNotesOnSegmentsExplanatoryTextBlock><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11">Remeasurement of Defined Benefit plans</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11" decimals="-4" unitRef="INR">6440000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="OneD" decimals="-4" unitRef="INR">6440000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss41">Remeasurement of Defined Benefit plans</in-capmkt:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss41" decimals="-4" unitRef="INR">2640000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="FourD" decimals="-4" unitRef="INR">2640000</in-capmkt:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-4" unitRef="INR">2190000</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="FourD" decimals="-5" unitRef="INR">900000</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-6" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="FourD" decimals="-6" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-4" unitRef="INR">4250000</in-capmkt:OtherComprehensiveIncome><in-capmkt:OtherComprehensiveIncome contextRef="FourD" decimals="-4" unitRef="INR">1740000</in-capmkt:OtherComprehensiveIncome></xbrli:xbrl>