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<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" 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-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">LT</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-11</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">LT</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-11</xbrli:startDate><xbrli:endDate>2026-08-11</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="D_SlumpSaleEntityOrDivision1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">LT</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-11</xbrli:startDate><xbrli:endDate>2026-08-11</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:SlumpSaleEntityOrDivisionAxis"><in-capmkt:SlumpSaleEntityOrDivisionDomain>SlumpSaleEntityOrDivisionDomain1</in-capmkt:SlumpSaleEntityOrDivisionDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_SlumpSaleEntityOrDivision1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">LT</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-11</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:SlumpSaleEntityOrDivisionAxis"><in-capmkt:SlumpSaleEntityOrDivisionDomain>SlumpSaleEntityOrDivisionDomain1</in-capmkt:SlumpSaleEntityOrDivisionDomain></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><in-capmkt:ScripCode contextRef="OneI">500510</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">Larsen and Toubro Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">LT</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE018A01030</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Slump Sale</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="OneI">2026-08-11</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="OneD">15:45:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfReport contextRef="OneI">2026-08-11</in-capmkt:DateOfReport><in-capmkt:RemarksForWebsiteDissemination contextRef="OneI">Execution of Business Transfer Agreement with Vyoma.AI Limited (Vyoma) Wholly owned Subsidiary of the Company </in-capmkt:RemarksForWebsiteDissemination><in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="I_SlumpSaleEntityOrDivision1">DataCenter Buisness</in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1">Unit</in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:AreaOfBusinessOfTheSlumpSaleEntities contextRef="I_SlumpSaleEntityOrDivision1">Vyoma.AI Limited – A newly incorporated public limited company established for the purpose of establishing data centres for providing Infrastructure and Technology enabled Services.

Larsen &amp; Toubro Limited – The Company is a diversified industrial conglomerate carrying the business of construction, engineering, manufacturing, technology, global infrastructure and industrial machinery and products, addressing critical needs in key sectors of the economy like infrastructure, precision engineering, hydrocarbon, heavy engineering, energy, ship building, aerospace, mining and minerals.</in-capmkt:AreaOfBusinessOfTheSlumpSaleEntities><in-capmkt:PreviousYearTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="INR" decimals="-6">366000000</in-capmkt:PreviousYearTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="pure" 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decimals="INF">0.0003</in-capmkt:PreviousYearPercentageOfIncomeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="INR" decimals="-7">11420000000</in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0.0157</in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" 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decimals="INF">1375729178</in-capmkt:TotalNumberOfSharesPreEvent><in-capmkt:TotalPercentageOfSharesPreEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">1</in-capmkt:TotalPercentageOfSharesPreEvent><in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderPromoterAndPromoterGroupCategoryPostEvent><in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">1375729178</in-capmkt:NumberOfSharesUnderPublicCategoryPostEvent><in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">1</in-capmkt:PercentageOfSharesUnderPublicCategoryPostEvent><in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">0</in-capmkt:NumberOfSharesUnderOtherCategoryPostEvent><in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">0</in-capmkt:PercentageOfSharesUnderOtherCategoryPostEvent><in-capmkt:TotalNumberOfSharesPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="shares" decimals="INF">1375729178</in-capmkt:TotalNumberOfSharesPostEvent><in-capmkt:TotalPercentageOfSharesPostEvent contextRef="I_SlumpSaleEntityOrDivision1" unitRef="pure" decimals="INF">1</in-capmkt:TotalPercentageOfSharesPostEvent><in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredIntoForSlumpSaleEvent contextRef="OneI">2026-08-11</in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredIntoForSlumpSaleEvent><in-capmkt:TheExpectedDateOfCompletionOfSlumpSaleEvent contextRef="OneI">2026-10-31</in-capmkt:TheExpectedDateOfCompletionOfSlumpSaleEvent><in-capmkt:NatureOfConsiderationForSlumpSaleEvent contextRef="OneD">Shares</in-capmkt:NatureOfConsiderationForSlumpSaleEvent><in-capmkt:DetailsOfConsiderationForSlumpSaleEvent contextRef="OneI">Consideration estimated to be Rs. 1400 crore, subject to closing adjustments. The consideration for the aforesaid transfer shall be discharged by Vyoma through issuance and allotment of fully paid up equity shares of face value of Rs. 100 each to the Company, based on the valuation determined by an independent valuer</in-capmkt:DetailsOfConsiderationForSlumpSaleEvent><in-capmkt:BriefDetailsOfBuyersSlumpSaleEvent contextRef="OneI">Vyoma.AI Limited is a Wholly owned Subsidiary of the Company</in-capmkt:BriefDetailsOfBuyersSlumpSaleEvent><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSlumpSale contextRef="OneD">false</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSlumpSale><in-capmkt:WhetherSlumpSaleEventWouldFallWithinRelatedPartyTransactions contextRef="OneD">false</in-capmkt:WhetherSlumpSaleEventWouldFallWithinRelatedPartyTransactions><in-capmkt:WhetherSlumpSaleEventIsDoneAtArmsLength contextRef="OneD">true</in-capmkt:WhetherSlumpSaleEventIsDoneAtArmsLength><in-capmkt:AnyOtherBriefSignificantInformationForSlumpSaleEvent contextRef="OneI">1. The Transaction is being undertaken between the Company and its wholly owned subsidiary. Accordingly no related party transaction approval is required as the same is exempted.
2. The proposed transaction is undertaken by way of a slump sale through a Business Transfer Agreement and is outside Scheme of Arrangement. 
Vyoma does not meet the threshold requirements for an “Undertaking” in terms of Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of SEBI LODR Regulations.
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