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<!--PIT V2.0 (30-04-2026)-->
<xbrli:xbrl xmlns:in-bse-co="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co" xmlns:in-bse-co-roles="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-bse-co-type="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-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-bse-co-2017-09-15.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-cg/Symbol">SOUTHWEST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-21</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="Disclosure1"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-cg/Symbol">SOUTHWEST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-21</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersAxis"><in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersDomain>Disclosure1</in-bse-co:ChangeInHoldingOfSecuritiesOfPromotersDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="Disclosure2"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-cg/Symbol">SOUTHWEST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-21</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember 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Officer</in-bse-co:DesignationOfSignatory><in-bse-co:Place contextRef="MainI">Gurugram</in-bse-co:Place><in-bse-co:DateOfFiling contextRef="MainI">2026-08-21</in-bse-co:DateOfFiling><in-bse-co:ISINCode contextRef="MainI">INE980Y01015</in-bse-co:ISINCode><in-bse-co:DisclosureUnderRegulation contextRef="MainI">Regulation 7 (2)</in-bse-co:DisclosureUnderRegulation><in-bse-co:RevisedFilling contextRef="MainI">false</in-bse-co:RevisedFilling><in-bse-co:TypeOfInstrument contextRef="Disclosure1">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure1">Promoter and Director</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure1">Vikas Jain</in-bse-co:NameOfThePerson><in-bse-co:IdentificationNumberOfDirectorOrCompany contextRef="Disclosure1">00049217</in-bse-co:IdentificationNumberOfDirectorOrCompany><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">12272342</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding contextRef="Disclosure1" unitRef="pure" decimals="INF">0.3758</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding><in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">563138</in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity contextRef="Disclosure1" unitRef="INR" decimals="0">129234540</in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedTransactionType contextRef="Disclosure1">Sell</in-bse-co:SecuritiesAcquiredOrDisposedTransactionType><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity contextRef="Disclosure1" unitRef="shares" decimals="INF">11709204</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding contextRef="Disclosure1" unitRef="pure" decimals="INF">0.3586</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate contextRef="Disclosure1">2026-08-18</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate contextRef="Disclosure1">2026-08-18</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate><in-bse-co:ModeOfAcquisitionOrDisposal contextRef="Disclosure1">Market Sale</in-bse-co:ModeOfAcquisitionOrDisposal><in-bse-co:DateOfIntimationToCompany contextRef="Disclosure1">2026-08-20</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure1">NSE</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure1">1. The Equity shares held by Mr. Vikas Jain Includes 11,34, 644 Equity Shares allotted on July 10, 2026, pursuant to the conversion of Warrants into Equity Shares and presently the listing application for listing of 28,21,411 Equity Shares (includes 11,34,644 Equity Shares) are under process and listing &amp; trading approval is awaited. 



2.Mr. Vikas Jain, have sold shares on August 18, 2026. The details are as follows:           

                 Date           No. of Shares           Price                     Exchange on which the trade was executed 
          August 18, 2026       563138                  Rs229.49             NSE
          August 18, 2026        2700                      Rs.243.02            BSE </in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock><in-bse-co:TypeOfInstrument contextRef="Disclosure2">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure2">Promoter and Director</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure2">Vikas Jain</in-bse-co:NameOfThePerson><in-bse-co:IdentificationNumberOfDirectorOrCompany contextRef="Disclosure2">00049217</in-bse-co:IdentificationNumberOfDirectorOrCompany><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">11709204</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0.3585</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding><in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">2700</in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity contextRef="Disclosure2" unitRef="INR" decimals="0">656154</in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedTransactionType contextRef="Disclosure2">Sell</in-bse-co:SecuritiesAcquiredOrDisposedTransactionType><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">11706504</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0.3585</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate contextRef="Disclosure2">2026-08-18</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate contextRef="Disclosure2">2026-08-18</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate><in-bse-co:ModeOfAcquisitionOrDisposal contextRef="Disclosure2">Market Sale</in-bse-co:ModeOfAcquisitionOrDisposal><in-bse-co:DateOfIntimationToCompany contextRef="Disclosure2">2026-08-20</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure2">BSE</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure2">1. The Equity shares held by Mr. Vikas Jain Includes 11,34, 644 Equity Shares allotted on July 10, 2026, pursuant to the conversion of Warrants into Equity Shares and presently the listing application for listing of 28,21,411 Equity Shares (includes 11,34,644 Equity Shares) are under process and listing &amp; trading approval is awaited. 



2.Mr. Vikas Jain, have sold shares on August 18, 2026. The details are as follows:           

                 Date           No. of Shares           Price                     Exchange on which the trade was executed 
          August 18, 2026       563138                  Rs229.49             NSE
         August 18, 2026        2700                      Rs.243.02            BSE </in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock></xbrli:xbrl>
