<?xml version="1.0" encoding="UTF-8"?>
<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-04-30/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.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">MARUSHIKA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-13</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AwardingOfOrdersOrContracts"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">MARUSHIKA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-13</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:AwardingOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_AwardingOfOrdersOrContractsMember"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">MARUSHIKA</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-13</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:AwardingOrBaggingOrReceivingOrAmendmentOrTerminationOfOrdersOrContractsAsPerSubPara4OfParaBAxis">in-capmkt:AwardingOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">MARUSHIKA</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">MARUSHIKA TECHNOLOGY LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">000000</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE0X7G01013</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Awarding, Bagging/Receiving, Amendment or termination of orders/contracts (Sub-para 4-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_AwardingOfOrdersOrContracts">Awarding of order(s)/contract(s)</in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-08-12</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">18:45:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-08-13</in-capmkt:DateOfReport><in-capmkt:NameOfTheEntityToWhichOrdersOrContractsIsAwarded contextRef="I_AwardingOfOrdersOrContractsMember">Nashik Municipal Corporation</in-capmkt:NameOfTheEntityToWhichOrdersOrContractsIsAwarded><in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness contextRef="I_AwardingOfOrdersOrContractsMember">true</in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness><in-capmkt:WhetherOrdersOrContractsIsAwardedToDomesticOrInternationalEntity contextRef="I_AwardingOfOrdersOrContractsMember">Domestic</in-capmkt:WhetherOrdersOrContractsIsAwardedToDomesticOrInternationalEntity><in-capmkt:WhetherTheCounterpartyIsIndianListedEntity contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheCounterpartyIsIndianListedEntity><in-capmkt:LEIOrCINOrRegistrationNumberOfTheCounterparty contextRef="I_AwardingOfOrdersOrContractsMember">335800284VCFP9BBCT70</in-capmkt:LEIOrCINOrRegistrationNumberOfTheCounterparty><in-capmkt:WhetherTheCounterpartyBelongsToGroupCompaniesOfAnyIndianListedEntity contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheCounterpartyBelongsToGroupCompaniesOfAnyIndianListedEntity><in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists contextRef="I_AwardingOfOrdersOrContractsMember">India</in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists><in-capmkt:DateOfAwardOfOrdersOrContracts contextRef="I_AwardingOfOrdersOrContractsMember">2026-08-12</in-capmkt:DateOfAwardOfOrdersOrContracts><in-capmkt:AmountOfTheOrdersOrContracts contextRef="I_AwardingOfOrdersOrContractsMember" unitRef="INR" decimals="0">300000000</in-capmkt:AmountOfTheOrdersOrContracts><in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded contextRef="I_AwardingOfOrdersOrContractsMember">Development of Multi Level Car Parking (MLCP) at Yashwant Mandai, Nashik for Simhastha Kumbh Mela on PPP basis, subject to the terms and conditions of the RFP and Draft Concession Agreement</in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded><in-capmkt:TimePeriodToWhichOrdersOrContractsIsAssociated contextRef="I_AwardingOfOrdersOrContractsMember">Concession period of 30 years including a construction period of 1 (one) year.</in-capmkt:TimePeriodToWhichOrdersOrContractsIsAssociated><in-capmkt:BroadCommercialConsiderationOrSizeOfTheOrdersOrContracts contextRef="I_AwardingOfOrdersOrContractsMember">Estimated ₹ 30 Crores</in-capmkt:BroadCommercialConsiderationOrSizeOfTheOrdersOrContracts><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded><in-capmkt:WhetherTheOrderOrContractWouldFallWithinRelatedPartyTransactions contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheOrderOrContractWouldFallWithinRelatedPartyTransactions></xbrli:xbrl>
