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<!--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/ScripCode">533271</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-09</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_BaggingOrReceivingOfOrdersOrContracts"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">533271</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-09</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:BaggingOrReceivingOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_BaggingOrReceivingOfOrdersOrContractsMember"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">533271</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-09</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:AwardingOrBaggingOrReceivingOrAmendmentOrTerminationOfOrdersOrContractsAsPerSubPara4OfParaBAxis">in-capmkt:BaggingOrReceivingOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">ASHOKA</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">ASHOKA BUILDCON LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">533271</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE442H01029</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_BaggingOrReceivingOfOrdersOrContracts">Bagging/Receiving of orders/contracts</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">2026-10-09</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">15:15:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-10-09</in-capmkt:DateOfReport><in-capmkt:NameOfTheEntityAwardingTheOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">North Eastern Railway</in-capmkt:NameOfTheEntityAwardingTheOrdersOrContracts><in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">true</in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness><in-capmkt:WhetherOrdersOrContractsIsAwardedByDomesticOrInternationalEntity contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">Domestic</in-capmkt:WhetherOrdersOrContractsIsAwardedByDomesticOrInternationalEntity><in-capmkt:WhetherTheCounterpartyIsIndianListedEntity contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheCounterpartyIsIndianListedEntity><in-capmkt:LEIOrCINOrRegistrationNumberOfTheCounterparty contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">335800QOIMP3KXGUZP88</in-capmkt:LEIOrCINOrRegistrationNumberOfTheCounterparty><in-capmkt:WhetherTheCounterpartyBelongsToGroupCompaniesOfAnyIndianListedEntity contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheCounterpartyBelongsToGroupCompaniesOfAnyIndianListedEntity><in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">India</in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists><in-capmkt:DateOfBaggingOrReceivingOfOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">2026-10-09</in-capmkt:DateOfBaggingOrReceivingOfOrdersOrContracts><in-capmkt:AmountOfTheOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember" unitRef="INR" decimals="0">2902250223</in-capmkt:AmountOfTheOrdersOrContracts><in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">• On EPC mode; 
• PBG 5% of the contract price 
• Defect Liability Period of 2 years.
</in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded><in-capmkt:NatureOfOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">Design, Supply, Erection, Testing &amp; Commissioning of Traction Sub Stations with associated Switching Posts for 2x25 KV AT traction feeding system in Gorakhpur cantt-Chhapra Gramin section of Varanasi Division of North Eastern Railway for capacity up-gradation work of electric traction power supply installations on Engineering, Procurement &amp; Construction Mode</in-capmkt:NatureOfOrdersOrContracts><in-capmkt:TimePeriodByWhichTheOrdersOrContractsIsToBeExecuted contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">Completion Period: 
24 months from date of commencement
</in-capmkt:TimePeriodByWhichTheOrdersOrContractsIsToBeExecuted><in-capmkt:BroadConsiderationForTheOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">Rs.290.23 Crore (incl. GST)</in-capmkt:BroadConsiderationForTheOrdersOrContracts><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">false</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded><in-capmkt:WhetherTheOrderOrContractWouldFallWithinRelatedPartyTransactions contextRef="I_BaggingOrReceivingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheOrderOrContractWouldFallWithinRelatedPartyTransactions></xbrli:xbrl>
