<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--IFIndAs V2.1 (26-06-2026)--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-01-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2026-01-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2026-01-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-01-31/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="INRPerShare">0.08</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0.08</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">0.08</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0.08</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">The financial results of the Company for the quarter ended June 30, 2026, have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on August 7, 2026. The results have also been reviewed by the Statutory Auditors. These standalone unaudited financial results have been prepared in accordance with the Ind AS prescribed under Section 133 of the Companies Act, 2013, alongside other generally accepted accounting principles in India. They comply with the presentation and disclosure requirements outlined in Reg 33 of the SEBI LODR. The reviewed Unaudited Financial Results of the Company for the quarter ended June 30, 2026, are available on the Company's website (www.pdsltd.com) and on the websites of BSE and NSE. Previous period figures have been re-grouped or reclassified where necessary to conform to the current periods classification, with no material impact from these changes.</in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-capmkt:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Other Expenses</in-capmkt:DescriptionOfOtherExpenses><in-capmkt:OtherExpenses contextRef="OneExpenses1D" decimals="-3" unitRef="INR">121387000</in-capmkt:OtherExpenses><in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-5" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillNotBeReclassifiedToProfitOrLoss><in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" decimals="-5" unitRef="INR">0</in-capmkt:IncomeTaxRelatingToItemsThatWillBeReclassifiedToProfitOrLoss><in-capmkt:OtherComprehensiveIncome contextRef="OneD" decimals="-5" unitRef="INR">0</in-capmkt:OtherComprehensiveIncome><in-capmkt:ModeOfFundRaising contextRef="StatementStatic1I">QIP</in-capmkt:ModeOfFundRaising><in-capmkt:DateOfFundsRaising contextRef="StatementStatic1I">2024-08-27</in-capmkt:DateOfFundsRaising><in-capmkt:AmountRaised contextRef="StatementStatic1I" decimals="-5" unitRef="INR">4300000000</in-capmkt:AmountRaised><in-capmkt:DateOfEndOfReportingPeriod contextRef="StatementStatic1D">2026-06-30</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:MonitoringAgency contextRef="StatementStatic1D">true</in-capmkt:MonitoringAgency><in-capmkt:NameOfMonitoringAgency contextRef="StatementStatic1I">CRISIL Limited</in-capmkt:NameOfMonitoringAgency><in-capmkt:IsThereADeviationOrVariationInUseOfFundsRaised contextRef="StatementStatic1D">false</in-capmkt:IsThereADeviationOrVariationInUseOfFundsRaised><in-capmkt:ExplanationForTheDeviationOrVariation contextRef="StatementStatic1I">Not Applicable</in-capmkt:ExplanationForTheDeviationOrVariation><in-capmkt:CommentsOfTheAuditCommitteeAfterReview contextRef="StatementStatic1I">Not Applicable</in-capmkt:CommentsOfTheAuditCommitteeAfterReview><in-capmkt:NameOfSignatoryOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneD">Abhishekh Kanoi</in-capmkt:NameOfSignatoryOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised><in-capmkt:DesignationOfPersonOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneD">Company Secretary and Compliance Officer</in-capmkt:DesignationOfPersonOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised><in-capmkt:PlaceOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneD">Mumbai</in-capmkt:PlaceOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised><in-capmkt:DateOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised contextRef="OneI">2026-08-07</in-capmkt:DateOfStatementOfDeviationOrVariationInUtilisationOfFundsRaised></xbrli:xbrl>