<?xml version="1.0" encoding="UTF-8"?>
<xbrli:xbrl xmlns:in-bse-fin="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin" xmlns:in-bse-fin-roles="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin-roles" xmlns:in-bse-fin-ent="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin/in-bse-fin-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-bse-fin-types="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin-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-fin-2020-03-31.xsd"/><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-fin/NSESymbol">POONAWALLA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2022-04-01</xbrli:startDate><xbrli:endDate>2022-06-30</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="OneExpenses1D"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-fin/NSESymbol">POONAWALLA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2022-04-01</xbrli:startDate><xbrli:endDate>2022-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:DetailsOfOtherExpensesAxis">in-bse-fin:OtherExpenses1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-fin/NSESymbol">POONAWALLA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2022-04-01</xbrli:startDate><xbrli:endDate>2022-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-bse-fin:ItemsThatWillNotBeReclassifiedToProfitAndLossAxis"><in-bse-fin:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain>ItemsThatWillNotBeReclassifiedToProfitAndLoss1</in-bse-fin:ItemsThatWillNotBeReclassifiedToProfitAndLossDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ItemsThatWillBeReclassifiedToProfitAndLoss11"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-fin/NSESymbol">POONAWALLA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2022-04-01</xbrli:startDate><xbrli:endDate>2022-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-bse-fin:ItemsThatWillBeReclassifiedToProfitAndLossAxis"><in-bse-fin:ItemsThatWillBeReclassifiedToProfitAndLossDomain>ItemsThatWillBeReclassifiedToProfitAndLoss1</in-bse-fin:ItemsThatWillBeReclassifiedToProfitAndLossDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ItemsThatWillBeReclassifiedToProfitAndLoss12"><xbrli:entity><xbrli:identifier scheme="http://www.bseindia.com/bse-fin/NSESymbol">POONAWALLA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2022-04-01</xbrli:startDate><xbrli:endDate>2022-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-bse-fin:ItemsThatWillBeReclassifiedToProfitAndLossAxis"><in-bse-fin:ItemsThatWillBeReclassifiedToProfitAndLossDomain>ItemsThatWillBeReclassifiedToProfitAndLoss2</in-bse-fin:ItemsThatWillBeReclassifiedToProfitAndLossDomain></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-bse-fin:ScripCode contextRef="OneD">524000</in-bse-fin:ScripCode><in-bse-fin:Symbol contextRef="OneD">POONAWALLA</in-bse-fin:Symbol><in-bse-fin:MSEISymbol contextRef="OneD">NOT LISTED</in-bse-fin:MSEISymbol><in-bse-fin:ISIN contextRef="OneD">INE511C01022</in-bse-fin:ISIN><in-bse-fin:NameOfTheCompany contextRef="OneD">Poonawalla Fincorp Limited</in-bse-fin:NameOfTheCompany><in-bse-fin:ClassOfSecurity contextRef="OneD">Equity</in-bse-fin:ClassOfSecurity><in-bse-fin:DateOfStartOfFinancialYear contextRef="OneD">2022-04-01</in-bse-fin:DateOfStartOfFinancialYear><in-bse-fin:DateOfEndOfFinancialYear contextRef="OneD">2023-03-31</in-bse-fin:DateOfEndOfFinancialYear><in-bse-fin:DateOfBoardMeetingWhenFinancialResultsWereApproved contextRef="OneD">2022-07-27</in-bse-fin:DateOfBoardMeetingWhenFinancialResultsWereApproved><in-bse-fin:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange contextRef="OneD">2022-07-11</in-bse-fin:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange><in-bse-fin:DescriptionOfPresentationCurrency contextRef="OneD">INR</in-bse-fin:DescriptionOfPresentationCurrency><in-bse-fin:LevelOfRoundingUsedInFinancialStatements contextRef="OneD">Crores</in-bse-fin:LevelOfRoundingUsedInFinancialStatements><in-bse-fin:ReportingQuarter contextRef="OneD">First quarter</in-bse-fin:ReportingQuarter><in-bse-fin:IsCompanyReportingMultisegmentOrSingleSegment contextRef="OneD">Single segment</in-bse-fin:IsCompanyReportingMultisegmentOrSingleSegment><in-bse-fin:DescriptionOfSingleSegment contextRef="OneD">Asset Finance Company</in-bse-fin:DescriptionOfSingleSegment><in-bse-fin:DateOfStartOfBoardMeeting contextRef="OneD">2022-07-27</in-bse-fin:DateOfStartOfBoardMeeting><in-bse-fin:StartTimeOfBoardMeeting contextRef="OneD">14:00:00</in-bse-fin:StartTimeOfBoardMeeting><in-bse-fin:DateOfEndOfBoardMeeting contextRef="OneD">2022-07-27</in-bse-fin:DateOfEndOfBoardMeeting><in-bse-fin:EndTimeOfBoardMeeting contextRef="OneD">16:10:00</in-bse-fin:EndTimeOfBoardMeeting><in-bse-fin:WhetherCashFlowStatementIsApplicableOnCompany contextRef="OneD">false</in-bse-fin:WhetherCashFlowStatementIsApplicableOnCompany><in-bse-fin:DeclarationOfUnmodifiedOpinionOrStatementOnImpactOfAuditQualification contextRef="OneD">Not applicable</in-bse-fin:DeclarationOfUnmodifiedOpinionOrStatementOnImpactOfAuditQualification><in-bse-fin:DateOfStartOfReportingPeriod contextRef="OneD">2022-04-01</in-bse-fin:DateOfStartOfReportingPeriod><in-bse-fin:DateOfEndOfReportingPeriod contextRef="OneD">2022-06-30</in-bse-fin:DateOfEndOfReportingPeriod><in-bse-fin:WhetherResultsAreAuditedOrUnaudited contextRef="OneD">Unaudited</in-bse-fin:WhetherResultsAreAuditedOrUnaudited><in-bse-fin:NatureOfReportStandaloneConsolidated contextRef="OneD">Consolidated</in-bse-fin:NatureOfReportStandaloneConsolidated><in-bse-fin:InterestEarned contextRef="OneD" unitRef="INR" decimals="-5">5179300000</in-bse-fin:InterestEarned><in-bse-fin:DividendIncome contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:DividendIncome><in-bse-fin:RentalIncome contextRef="OneD" unitRef="INR" decimals="-6">62000000</in-bse-fin:RentalIncome><in-bse-fin:FeesAndCommissionIncome contextRef="OneD" unitRef="INR" decimals="-4">184930000</in-bse-fin:FeesAndCommissionIncome><in-bse-fin:NetGainOnFairValueChanges contextRef="OneD" unitRef="INR" decimals="-4">24650000</in-bse-fin:NetGainOnFairValueChanges><in-bse-fin:NetGainOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory contextRef="OneD" unitRef="INR" decimals="-5">1300000</in-bse-fin:NetGainOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory><in-bse-fin:RevenueFromSaleOfProduct contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:RevenueFromSaleOfProduct><in-bse-fin:RevenueFromSaleOfServices contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:RevenueFromSaleOfServices><in-bse-fin:RevenueFromOperations contextRef="OneD" unitRef="INR" decimals="-4">5452180000</in-bse-fin:RevenueFromOperations><in-bse-fin:OtherIncome contextRef="OneD" unitRef="INR" decimals="-5">264600000</in-bse-fin:OtherIncome><in-bse-fin:Income contextRef="OneD" unitRef="INR" decimals="-4">5716780000</in-bse-fin:Income><in-bse-fin:CostOfMaterialsConsumed contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:CostOfMaterialsConsumed><in-bse-fin:PurchasesOfStockInTrade contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:PurchasesOfStockInTrade><in-bse-fin:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade><in-bse-fin:EmployeeBenefitExpense contextRef="OneD" unitRef="INR" decimals="-4">1619060000</in-bse-fin:EmployeeBenefitExpense><in-bse-fin:FinanceCosts contextRef="OneD" unitRef="INR" decimals="-4">1733610000</in-bse-fin:FinanceCosts><in-bse-fin:DepreciationDepletionAndAmortisationExpense contextRef="OneD" unitRef="INR" decimals="-4">136990000</in-bse-fin:DepreciationDepletionAndAmortisationExpense><in-bse-fin:FeesAndCommissionExpense contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:FeesAndCommissionExpense><in-bse-fin:NetLossOnFairValueChanges contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:NetLossOnFairValueChanges><in-bse-fin:NetLossOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:NetLossOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory><in-bse-fin:ImpairmentOnFinancialInstruments contextRef="OneD" unitRef="INR" decimals="-4">-139640000</in-bse-fin:ImpairmentOnFinancialInstruments><in-bse-fin:OtherExpenses contextRef="OneD" unitRef="INR" decimals="-4">610980000</in-bse-fin:OtherExpenses><in-bse-fin:Expenses contextRef="OneD" unitRef="INR" decimals="-6">3961000000</in-bse-fin:Expenses><in-bse-fin:ProfitBeforeExceptionalItemsAndTax contextRef="OneD" unitRef="INR" decimals="-4">1755780000</in-bse-fin:ProfitBeforeExceptionalItemsAndTax><in-bse-fin:ExceptionalItemsBeforeTax contextRef="OneD" unitRef="INR" decimals="-5">70300000</in-bse-fin:ExceptionalItemsBeforeTax><in-bse-fin:ProfitBeforeTax contextRef="OneD" unitRef="INR" decimals="-4">1826080000</in-bse-fin:ProfitBeforeTax><in-bse-fin:CurrentTax contextRef="OneD" unitRef="INR" decimals="-5">515400000</in-bse-fin:CurrentTax><in-bse-fin:DeferredTax contextRef="OneD" unitRef="INR" decimals="-5">-98500000</in-bse-fin:DeferredTax><in-bse-fin:TaxExpense contextRef="OneD" unitRef="INR" decimals="-5">416900000</in-bse-fin:TaxExpense><in-bse-fin:ProfitLossForPeriodFromContinuingOperations contextRef="OneD" unitRef="INR" decimals="-4">1409180000</in-bse-fin:ProfitLossForPeriodFromContinuingOperations><in-bse-fin:ProfitLossFromDiscontinuedOperationsBeforeTax contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:ProfitLossFromDiscontinuedOperationsBeforeTax><in-bse-fin:TaxExpenseOfDiscontinuedOperations contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:TaxExpenseOfDiscontinuedOperations><in-bse-fin:ProfitLossFromDiscontinuedOperationsAfterTax contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:ProfitLossFromDiscontinuedOperationsAfterTax><in-bse-fin:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="OneD" unitRef="INR" decimals="-7">0</in-bse-fin:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod><in-bse-fin:ProfitLossForPeriod contextRef="OneD" unitRef="INR" decimals="-4">1409180000</in-bse-fin:ProfitLossForPeriod><in-bse-fin:OtherComprehensiveIncomeNetOfTaxes contextRef="OneD" unitRef="INR" decimals="-5">-34800000</in-bse-fin:OtherComprehensiveIncomeNetOfTaxes><in-bse-fin:ComprehensiveIncomeForThePeriod contextRef="OneD" unitRef="INR" decimals="-4">1374380000</in-bse-fin:ComprehensiveIncomeForThePeriod><in-bse-fin:ProfitOrLossAttributableToOwnersOfParent contextRef="OneD" unitRef="INR" decimals="-4">1406830000</in-bse-fin:ProfitOrLossAttributableToOwnersOfParent><in-bse-fin:ProfitOrLossAttributableToNonControllingInterests contextRef="OneD" unitRef="INR" decimals="-4">2350000</in-bse-fin:ProfitOrLossAttributableToNonControllingInterests><in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParent contextRef="OneD" unitRef="INR" decimals="-6">1372000000</in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParent><in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParentNonControllingInterests contextRef="OneD" unitRef="INR" decimals="-4">2380000</in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParentNonControllingInterests><in-bse-fin:PaidUpValueOfEquityShareCapital contextRef="OneD" unitRef="INR" decimals="-4">1529940000</in-bse-fin:PaidUpValueOfEquityShareCapital><in-bse-fin:FaceValueOfEquityShareCapital contextRef="OneD" unitRef="INRPerShare" decimals="INF">2</in-bse-fin:FaceValueOfEquityShareCapital><in-bse-fin:BasicEarningsLossPerShareFromContinuingOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">1.84</in-bse-fin:BasicEarningsLossPerShareFromContinuingOperations><in-bse-fin:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">1.82</in-bse-fin:DilutedEarningsLossPerShareFromContinuingOperations><in-bse-fin:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">0</in-bse-fin:BasicEarningsLossPerShareFromDiscontinuedOperations><in-bse-fin:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">0</in-bse-fin:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-bse-fin:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">1.84</in-bse-fin:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-bse-fin:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">1.82</in-bse-fin:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-bse-fin:DebtEquityRatio contextRef="OneD" unitRef="pure" decimals="INF">0.0175</in-bse-fin:DebtEquityRatio><in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">&lt;div&gt;&lt;div&gt;For notes to accounts please refer the detailed results as uploaded with the exchange.&lt;/div&gt;&lt;/div&gt;</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock><in-bse-fin:DescriptionOfOtherExpenses contextRef="OneExpenses1D">Other expenses</in-bse-fin:DescriptionOfOtherExpenses><in-bse-fin:OtherExpenses contextRef="OneExpenses1D" unitRef="INR" decimals="-4">610980000</in-bse-fin:OtherExpenses><in-bse-fin:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11">Remeasurements of the defined benefit plans</in-bse-fin:DescriptionOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-bse-fin:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillNotBeReclassifiedToProfitAndLoss11" unitRef="INR" decimals="-5">45400000</in-bse-fin:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-bse-fin:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss contextRef="OneD" unitRef="INR" decimals="-5">45400000</in-bse-fin:AmountOfItemThatWillNotBeReclassifiedToProfitAndLoss><in-bse-fin:IncomeTaxRelatingToItmesThatWillNotBeReclassifiedToProfitOrLoss contextRef="OneD" unitRef="INR" decimals="-5">11400000</in-bse-fin:IncomeTaxRelatingToItmesThatWillNotBeReclassifiedToProfitOrLoss><in-bse-fin:DescriptionOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillBeReclassifiedToProfitAndLoss11">Debt instruments through other comprehensive income</in-bse-fin:DescriptionOfItemThatWillBeReclassifiedToProfitAndLoss><in-bse-fin:AmountOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillBeReclassifiedToProfitAndLoss11" unitRef="INR" decimals="-5">-300000</in-bse-fin:AmountOfItemThatWillBeReclassifiedToProfitAndLoss><in-bse-fin:DescriptionOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillBeReclassifiedToProfitAndLoss12">Reclassification adjustments on disposal of Joint Venture</in-bse-fin:DescriptionOfItemThatWillBeReclassifiedToProfitAndLoss><in-bse-fin:AmountOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="D_ItemsThatWillBeReclassifiedToProfitAndLoss12" unitRef="INR" decimals="-5">-68600000</in-bse-fin:AmountOfItemThatWillBeReclassifiedToProfitAndLoss><in-bse-fin:AmountOfItemThatWillBeReclassifiedToProfitAndLoss contextRef="OneD" unitRef="INR" decimals="-5">-68900000</in-bse-fin:AmountOfItemThatWillBeReclassifiedToProfitAndLoss><in-bse-fin:IncomeTaxRelatingToItmesThatWillBeReclassifiedToProfitOrLoss contextRef="OneD" unitRef="INR" decimals="-5">-100000</in-bse-fin:IncomeTaxRelatingToItmesThatWillBeReclassifiedToProfitOrLoss><in-bse-fin:OtherComprehensiveIncome contextRef="OneD" unitRef="INR" decimals="-5">-34800000</in-bse-fin:OtherComprehensiveIncome></xbrli:xbrl>
