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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">541988</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-13</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">541988</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-13</xbrli:startDate><xbrli:endDate>2026-10-13</xbrli:endDate></xbrli:period></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">AAVAS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Aavas Financiers Limited</in-capmkt:NameOfTheCompany><in-capmkt:WhetherCompanyIsSME contextRef="MainD">false</in-capmkt:WhetherCompanyIsSME><in-capmkt:ISIN contextRef="MainI">INE216P01012</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">2026-10-26</in-capmkt:DateOfProposedMeeting><in-capmkt:WhetherTradingWindowIsClosed contextRef="MainD">true</in-capmkt:WhetherTradingWindowIsClosed><in-capmkt:DateOfStartOfTradingWindowClosure contextRef="MainI">2026-10-01</in-capmkt:DateOfStartOfTradingWindowClosure><in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure contextRef="MainI">Remain closed from October 01, 2026 till 48 hours after the declaration and submission of Unaudited Financial Results for the Quarter and Half Year ended September 30, 2026 to Stock Exchanges.</in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure><in-capmkt:DateOfReport contextRef="MainI">2026-10-13</in-capmkt:DateOfReport><in-capmkt:Agenda1 contextRef="MainD">Financial results</in-capmkt:Agenda1><in-capmkt:Agenda2 contextRef="MainD">Other business</in-capmkt:Agenda2><in-capmkt:WhetherResultsAreAuditedOrUnaudited contextRef="MainD">Unaudited</in-capmkt:WhetherResultsAreAuditedOrUnaudited><in-capmkt:NatureOfReportStandaloneConsolidated contextRef="MainD">Standalone</in-capmkt:NatureOfReportStandaloneConsolidated><in-capmkt:ReportingPeriodType contextRef="MainD">Quarterly</in-capmkt:ReportingPeriodType><in-capmkt:MonthOfPeriodEnded contextRef="MainD">September</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 and 50 of SEBI (LODR) Regulations, 2015, this is to inform you that a Meeting of the Board of Directors of the Company is scheduled to be held on Monday, October 26, 2026, inter-alia, to consider and approve the Unaudited Financial Results of the Company for the Quarter and Half Year ended September 30, 2026</in-capmkt:RemarksWebsiteDissemination></xbrli:xbrl>