<?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:in-bse-fin-type="http://www.bseindia.com/xbrl/fin/2020-03-31/in-bse-fin-types" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" 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="OneOtherRevenueFromOperations01D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">HOMEFIRST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-04-01</xbrli:startDate><xbrli:endDate>2021-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:DetailsOfOtherRevenueFromOperationsAxis">in-bse-fin:OneOtherRevenueFromOperations01Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneOtherRevenueFromOperations02D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">HOMEFIRST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-04-01</xbrli:startDate><xbrli:endDate>2021-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:DetailsOfOtherRevenueFromOperationsAxis">in-bse-fin:OneOtherRevenueFromOperations02Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneOtherRevenueFromOperations03D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">HOMEFIRST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-04-01</xbrli:startDate><xbrli:endDate>2021-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:DetailsOfOtherRevenueFromOperationsAxis">in-bse-fin:OneOtherRevenueFromOperations03Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneOperatingExpenses01D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">HOMEFIRST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-04-01</xbrli:startDate><xbrli:endDate>2021-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-bse-fin:DetailsOfOtherExpensesAxis">in-bse-fin:OneOperatingExpenses01Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context>
<xbrli:context id="OneItemsThatWillNotBeReclassifiedToProfitAndLoss01D"><xbrli:entity><xbrli:identifier scheme="http://www.nseindia.com/NSESymbol">HOMEFIRST</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2021-04-01</xbrli:startDate><xbrli:endDate>2021-06-30</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-bse-fin:ItemsThatWillNotBeReclassifiedToProfitAndLossAxis"><ItemsThatWillNotBeReclassifiedToProfitAndLossDomain>in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member</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="shares"><xbrli:measure>xbrli:shares</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:Symbol contextRef="OneD">HOMEFIRST</in-bse-fin:Symbol>
<in-bse-fin:DateOfStartOfFinancialYear contextRef="OneD">2021-04-01</in-bse-fin:DateOfStartOfFinancialYear>
<in-bse-fin:DateOfEndOfFinancialYear contextRef="OneD">2022-03-31</in-bse-fin:DateOfEndOfFinancialYear>
<in-bse-fin:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange contextRef="OneD">2021-07-22</in-bse-fin:DateOnWhichPriorIntimationOfTheMeetingForConsideringFinancialResultsWasInformedToTheExchange>
<in-bse-fin:DescriptionOfPresentationCurrency contextRef="OneD">INR</in-bse-fin:DescriptionOfPresentationCurrency>
<in-bse-fin:LevelOfRoundingUsedInFinancialStatements contextRef="OneD">Millions</in-bse-fin:LevelOfRoundingUsedInFinancialStatements>
<in-bse-fin:ReportingQuarter contextRef="OneD">First quarter</in-bse-fin:ReportingQuarter>
<in-bse-fin:WhetherCashFlowStatementIsApplicableOnCompany contextRef="OneD">false</in-bse-fin:WhetherCashFlowStatementIsApplicableOnCompany>
<in-bse-fin:IsCompanyReportingMultisegmentOrSingleSegment contextRef="OneD">Single segment</in-bse-fin:IsCompanyReportingMultisegmentOrSingleSegment>
<in-bse-fin:DescriptionOfSingleSegment contextRef="OneD">financing by way of loans towards affordable housing segment in india</in-bse-fin:DescriptionOfSingleSegment>
<in-bse-fin:DateOfStartOfReportingPeriod contextRef="OneD">2021-04-01</in-bse-fin:DateOfStartOfReportingPeriod>
<in-bse-fin:DateOfEndOfReportingPeriod contextRef="OneD">2021-06-30</in-bse-fin:DateOfEndOfReportingPeriod>
<in-bse-fin:WhetherResultsAreAuditedOrUnaudited contextRef="OneD">Unaudited</in-bse-fin:WhetherResultsAreAuditedOrUnaudited>
<in-bse-fin:NatureOfReportStandaloneConsolidated contextRef="OneD">Standalone</in-bse-fin:NatureOfReportStandaloneConsolidated>
<in-bse-fin:InterestEarned contextRef="OneD" unitRef="INR" decimals="-6">1154650000.00</in-bse-fin:InterestEarned>
<in-bse-fin:DividendIncome contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:DividendIncome>
<in-bse-fin:RentalIncome contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:RentalIncome>
<in-bse-fin:FeesAndCommissionIncome contextRef="OneD" unitRef="INR" decimals="-6">9760000.00</in-bse-fin:FeesAndCommissionIncome>
<in-bse-fin:NetGainOnFairValueChanges contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:NetGainOnFairValueChanges>
<in-bse-fin:NetGainOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory contextRef="OneD" unitRef="INR" decimals="-6">193650000.00</in-bse-fin:NetGainOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory>
<in-bse-fin:RevenueFromSaleOfProduct contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:RevenueFromSaleOfProduct>
<in-bse-fin:RevenueFromSaleOfServices contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:RevenueFromSaleOfServices>
<in-bse-fin:OtherRevenueFromOperations contextRef="OneD" unitRef="INR" decimals="-6">23370000.00</in-bse-fin:OtherRevenueFromOperations>
<in-bse-fin:RevenueFromOperations contextRef="OneD" unitRef="INR" decimals="-6">1381430000.00</in-bse-fin:RevenueFromOperations>
<in-bse-fin:OtherIncome contextRef="OneD" unitRef="INR" decimals="-6">38790000.00</in-bse-fin:OtherIncome>
<in-bse-fin:Income contextRef="OneD" unitRef="INR" decimals="-6">1420220000.00</in-bse-fin:Income>
<in-bse-fin:CostOfMaterialsConsumed contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:CostOfMaterialsConsumed>
<in-bse-fin:PurchasesOfStockInTrade contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:PurchasesOfStockInTrade>
<in-bse-fin:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:ChangesInInventoriesOfFinishedGoodsWorkInProgressAndStockInTrade>
<in-bse-fin:EmployeeBenefitExpense contextRef="OneD" unitRef="INR" decimals="-6">185510000.00</in-bse-fin:EmployeeBenefitExpense>
<in-bse-fin:FinanceCosts contextRef="OneD" unitRef="INR" decimals="-6">531760000.00</in-bse-fin:FinanceCosts>
<in-bse-fin:DepreciationDepletionAndAmortisationExpense contextRef="OneD" unitRef="INR" decimals="-6">18830000.00</in-bse-fin:DepreciationDepletionAndAmortisationExpense>
<in-bse-fin:FeesAndCommissionExpense contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:FeesAndCommissionExpense>
<in-bse-fin:NetLossOnFairValueChanges contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:NetLossOnFairValueChanges>
<in-bse-fin:NetLossOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:NetLossOnDerecognitionOfFinancialInstrumentsUnderAmortisedCostCategory>
<in-bse-fin:ImpairmentOnFinancialInstruments contextRef="OneD" unitRef="INR" decimals="-6">130420000.00</in-bse-fin:ImpairmentOnFinancialInstruments>
<in-bse-fin:OtherExpenses contextRef="OneD" unitRef="INR" decimals="-6">77420000.00</in-bse-fin:OtherExpenses>
<in-bse-fin:Expenses contextRef="OneD" unitRef="INR" decimals="-6">943940000.00</in-bse-fin:Expenses>
<in-bse-fin:ProfitBeforeExceptionalItemsAndTax contextRef="OneD" unitRef="INR" decimals="-6">476280000.00</in-bse-fin:ProfitBeforeExceptionalItemsAndTax>
<in-bse-fin:ExceptionalItemsBeforeTax contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:ExceptionalItemsBeforeTax>
<in-bse-fin:ProfitBeforeTax contextRef="OneD" unitRef="INR" decimals="-6">476280000.00</in-bse-fin:ProfitBeforeTax>
<in-bse-fin:CurrentTax contextRef="OneD" unitRef="INR" decimals="-6">88090000.00</in-bse-fin:CurrentTax>
<in-bse-fin:DeferredTax contextRef="OneD" unitRef="INR" decimals="-6">37130000.00</in-bse-fin:DeferredTax>
<in-bse-fin:TaxExpense contextRef="OneD" unitRef="INR" decimals="-6">125220000.00</in-bse-fin:TaxExpense>
<in-bse-fin:ProfitLossForPeriodFromContinuingOperations contextRef="OneD" unitRef="INR" decimals="-6">351060000.00</in-bse-fin:ProfitLossForPeriodFromContinuingOperations>
<in-bse-fin:ProfitLossFromDiscontinuedOperationsBeforeTax contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:ProfitLossFromDiscontinuedOperationsBeforeTax>
<in-bse-fin:TaxExpenseOfDiscontinuedOperations contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:TaxExpenseOfDiscontinuedOperations>
<in-bse-fin:ProfitLossFromDiscontinuedOperationsAfterTax contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:ProfitLossFromDiscontinuedOperationsAfterTax>
<in-bse-fin:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
<in-bse-fin:ProfitLossForPeriod contextRef="OneD" unitRef="INR" decimals="-6">351060000.00</in-bse-fin:ProfitLossForPeriod>
<in-bse-fin:OtherComprehensiveIncomeNetOfTaxes contextRef="OneD" unitRef="INR" decimals="-6">-820000.00</in-bse-fin:OtherComprehensiveIncomeNetOfTaxes>
<in-bse-fin:ComprehensiveIncomeForThePeriod contextRef="OneD" unitRef="INR" decimals="-6">350240000.00</in-bse-fin:ComprehensiveIncomeForThePeriod>
<in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParent contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParent>
<in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParentNonControllingInterests contextRef="OneD" unitRef="INR" decimals="-6">0.00</in-bse-fin:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParentNonControllingInterests>
<in-bse-fin:PaidUpValueOfEquityShareCapital contextRef="OneD" unitRef="INR" decimals="-6">175000000.00</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">4.02</in-bse-fin:BasicEarningsLossPerShareFromContinuingOperations>
<in-bse-fin:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">3.94</in-bse-fin:DilutedEarningsLossPerShareFromContinuingOperations>
<in-bse-fin:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">0.00</in-bse-fin:BasicEarningsLossPerShareFromDiscontinuedOperations>
<in-bse-fin:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">0.00</in-bse-fin:DilutedEarningsLossPerShareFromDiscontinuedOperations>
<in-bse-fin:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">4.02</in-bse-fin:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations>
<in-bse-fin:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" unitRef="INRPerShare" decimals="INF">3.94</in-bse-fin:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations>
<in-bse-fin:DescriptionOfOtherRevenueFromOperations contextRef="OneOtherRevenueFromOperations01D">Gain on modification of financial asset</in-bse-fin:DescriptionOfOtherRevenueFromOperations>
<in-bse-fin:OtherRevenueFromOperations contextRef="OneOtherRevenueFromOperations01D" unitRef="INR" decimals="-6">16970000.00</in-bse-fin:OtherRevenueFromOperations>
<in-bse-fin:DescriptionOfOtherRevenueFromOperations contextRef="OneOtherRevenueFromOperations02D">Miscellaneous income</in-bse-fin:DescriptionOfOtherRevenueFromOperations>
<in-bse-fin:OtherRevenueFromOperations contextRef="OneOtherRevenueFromOperations02D" unitRef="INR" decimals="-6">4200000.00</in-bse-fin:OtherRevenueFromOperations>
<in-bse-fin:DescriptionOfOtherRevenueFromOperations contextRef="OneOtherRevenueFromOperations03D">Processing fees on credit-linked subsidy scheme (CLSS)</in-bse-fin:DescriptionOfOtherRevenueFromOperations>
<in-bse-fin:OtherRevenueFromOperations contextRef="OneOtherRevenueFromOperations03D" unitRef="INR" decimals="-6">2200000.00</in-bse-fin:OtherRevenueFromOperations>
<in-bse-fin:DescriptionOfOtherExpenses contextRef="OneOperatingExpenses01D">Other expenses</in-bse-fin:DescriptionOfOtherExpenses>
<in-bse-fin:OtherExpenses contextRef="OneOperatingExpenses01D" unitRef="INR" decimals="-6">77420000.00</in-bse-fin:OtherExpenses>
<in-bse-fin:FinanicalAssets contextRef="OneI" unitRef="INR" decimals="-6">0.00</in-bse-fin:FinanicalAssets>
<in-bse-fin:NonFinancialAssets contextRef="OneI" unitRef="INR" decimals="-6">0.00</in-bse-fin:NonFinancialAssets>
<in-bse-fin:FinancialLiabilities contextRef="OneI" unitRef="INR" decimals="-6">0.00</in-bse-fin:FinancialLiabilities>
<in-bse-fin:NonFinancialLiabilities contextRef="OneI" unitRef="INR" decimals="-6">0.00</in-bse-fin:NonFinancialLiabilities>
<in-bse-fin:OtherComprehensiveIncome contextRef="OneD" unitRef="INR" decimals="-6">-820000.00</in-bse-fin:OtherComprehensiveIncome>
</xbrli:xbrl>