<?xml version="1.0" encoding="UTF-8"?>
<!--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">VR</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-03</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">VR</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-03</xbrli:startDate><xbrli:endDate>2026-09-03</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:ScripCode contextRef="OneI">000000</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">V R INFRASPACE LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">VR</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE0QQM01017</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Update</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="OneI">2026-09-02</in-capmkt:DateOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">18:20:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DateOfInitialAnnouncement contextRef="OneI">2026-01-22</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="OneI">2026-09-02</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="OneI">2026-09-03</in-capmkt:DateOfReport><in-capmkt:UpdateForTheEvent contextRef="OneD">Acquisition (including agreement to acquire)</in-capmkt:UpdateForTheEvent><in-capmkt:BriefDetailsOfInitialAnnouncement contextRef="OneI">The Board of Directors of V R Infraspace Limited at its meeting held on Wednesday, January 21, 2026 has agreed to acquire up to 20% equity shares in Daxon Realty Limited, Subsidiary Company.</in-capmkt:BriefDetailsOfInitialAnnouncement><in-capmkt:ReasonForUpdate contextRef="OneD">Transaction Modification</in-capmkt:ReasonForUpdate><in-capmkt:TransactionModification contextRef="OneI">The Board of Directors of the Company, at its meeting held on today, i.e., September 02, 2026, which was commenced at 17:30 IST and concluded at 18:20 IST, has approved the Withdrawal of the proposed acquisition of the balance 5% stake in Daxon Realty Limited. The Company had earlier obtained approval for acquisition of up to 20% stake, of which 15% stake has been acquired. The Company will not proceed with the acquisition of the balance 5% stake and its shareholding in the said entity shall remain at 66%.The decision has been taken based on a reassessment of the Company’s business and strategic priorities.</in-capmkt:TransactionModification></xbrli:xbrl>
