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<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt-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-capmkt-ent-2023-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500103</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-09</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500103</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-07-09</xbrli:startDate><xbrli:endDate>2026-07-09</xbrli:endDate></xbrli:period></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">BHEL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">BHARAT HEAVY ELECTRICALS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:WhetherCompanyIsSME contextRef="MainD">false</in-capmkt:WhetherCompanyIsSME><in-capmkt:ISIN contextRef="MainI">INE257A01026</in-capmkt:ISIN><in-capmkt:TypeOfMeeting contextRef="MainI">Board Meeting</in-capmkt:TypeOfMeeting><in-capmkt:TypeOfIntimation contextRef="MainD">New</in-capmkt:TypeOfIntimation><in-capmkt:DateOfProposedMeeting contextRef="MainD">2026-07-16</in-capmkt:DateOfProposedMeeting><in-capmkt:WhetherTradingWindowIsClosed contextRef="MainD">true</in-capmkt:WhetherTradingWindowIsClosed><in-capmkt:DateOfStartOfTradingWindowClosure contextRef="MainI">2026-07-01</in-capmkt:DateOfStartOfTradingWindowClosure><in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure contextRef="MainI">18-07-2026</in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure><in-capmkt:DateOfReport contextRef="MainI">2026-07-09</in-capmkt:DateOfReport><in-capmkt:Agenda1 contextRef="MainD">Financial results</in-capmkt:Agenda1><in-capmkt:WhetherResultsAreAuditedOrUnaudited contextRef="MainD">Unaudited</in-capmkt:WhetherResultsAreAuditedOrUnaudited><in-capmkt:NatureOfReportStandaloneConsolidated contextRef="MainD">Standalone And Consolidated</in-capmkt:NatureOfReportStandaloneConsolidated><in-capmkt:ReportingPeriodType contextRef="MainD">Quarterly</in-capmkt:ReportingPeriodType><in-capmkt:MonthOfPeriodEnded contextRef="MainD">June</in-capmkt:MonthOfPeriodEnded><in-capmkt:YearOfPeriodEnded contextRef="MainI" unitRef="pure" decimals="0">2026</in-capmkt:YearOfPeriodEnded><in-capmkt:RemarksWebsiteDissemination contextRef="MainI">Pursuant to Regulation 29 of the SEBI (Listing Obligations &amp; Disclosure Requirements) Regulations, 2015, notice is hereby given that a meeting of the Board of Directors of the Company will be held on Thursday, 16th July, 2026, interalia, to approve the Unaudited Financial Results of BHEL for the quarter ended 30th June, 2026. 

Accordingly, Trading Window for Designated Persons shall remain closed upto 18th July, 2026.</in-capmkt:RemarksWebsiteDissemination></xbrli:xbrl>