<?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/ScripCode">522287</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-09</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">522287</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-09</xbrli:startDate><xbrli:endDate>2026-09-09</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="D_UnitOrDivisionOrSubsidiary1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">522287</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-09</xbrli:startDate><xbrli:endDate>2026-09-09</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:SaleOrDisposalUnitOrDivisionOrSubsidiaryAxis"><in-capmkt:UnitOrDivisionOrSubsidiaryDomain>UnitOrDivisionOrSubsidiaryDomain1</in-capmkt:UnitOrDivisionOrSubsidiaryDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_UnitOrDivisionOrSubsidiary1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">522287</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-09</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:SaleOrDisposalUnitOrDivisionOrSubsidiaryAxis"><in-capmkt:UnitOrDivisionOrSubsidiaryDomain>UnitOrDivisionOrSubsidiaryDomain1</in-capmkt:UnitOrDivisionOrSubsidiaryDomain></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><in-capmkt:ScripCode contextRef="OneI">522287</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">KALPATARU PROJECTS INTERNATIONAL LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">KPIL</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE220B01022</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Sale or disposal of unit(s)/division(s)/subsidiary</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="OneI">2026-09-09</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="OneD">10:00:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfReport contextRef="OneI">2026-09-09</in-capmkt:DateOfReport><in-capmkt:RemarksForWebsiteDissemination contextRef="OneI">(i) The proposed offering remains subject to, inter alia, prevailing market conditions, receipt of necessary approvals and clearances, and such other customary considerations as may be applicable. The initial public offering is expected to be completed by the end of September 2026. The Company will keep on updating material developments from time to time.  &lt;BR&gt; 
(ii) In the field of "Date on which the agreement for sale has been entered into", we have mentioned the date of XBRL filing, as the said field is not applicable in this case.  &lt;BR&gt; 
(iii) The field of "Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangement?" is not applicable in this case. </in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DetailsOfSaleOrDisposalUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="I_UnitOrDivisionOrSubsidiary1">Linjemontage I Grastorp AB, a (96.12%) first level step down material subsidiary of the Company</in-capmkt:DetailsOfSaleOrDisposalUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1">Subsidiary</in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="I_UnitOrDivisionOrSubsidiary1">Linjemontage I Grastorp AB (LMG)</in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="INR" decimals="-5">30235700000</in-capmkt:PreviousYearTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="pure" decimals="INF">0.1114</in-capmkt:PreviousYearPercentageOfTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="INR" decimals="-5">30235700000</in-capmkt:PreviousYearRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="pure" decimals="INF">0.1114</in-capmkt:PreviousYearPercentageOfRevenueOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearIncomeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="INR" decimals="-5">30371500000</in-capmkt:PreviousYearIncomeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfIncomeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="pure" decimals="INF">0.1115</in-capmkt:PreviousYearPercentageOfIncomeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="INR" decimals="-5">3497500000</in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="pure" decimals="INF">0.045</in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredInto contextRef="OneI">2026-09-09</in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredInto><in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal contextRef="OneI">2026-09-30</in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal><in-capmkt:NatureOfConsiderationForSaleOrDisposal contextRef="OneD">Cash</in-capmkt:NatureOfConsiderationForSaleOrDisposal><in-capmkt:DetailsOfConsiderationForSaleOrDisposal contextRef="OneI">The consideration that may be received by KPTS will be determined at a later stage. The Company will keep on updating material developments from time to time.</in-capmkt:DetailsOfConsiderationForSaleOrDisposal><in-capmkt:BriefDetailsOfBuyers contextRef="OneI">The offering is expected to include an offering to the general public in Sweden and an offering to institutional investors in Sweden and abroad, as permissible under applicable laws. None of the buyers belong to the promoter/promoter group/group companies.</in-capmkt:BriefDetailsOfBuyers><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSaleOrDisposed contextRef="OneD">true</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSaleOrDisposed><in-capmkt:NatureOfInterestAndDetailsThereofForSaleOrDisposal contextRef="OneI">None of the buyers belong to the promoter/promoter group/group companies.</in-capmkt:NatureOfInterestAndDetailsThereofForSaleOrDisposal><in-capmkt:WhetherSaleOrDisposalWouldFallWithinRelatedPartyTransactions contextRef="OneD">false</in-capmkt:WhetherSaleOrDisposalWouldFallWithinRelatedPartyTransactions><in-capmkt:WhetherSaleOrDisposalEventIsDoneAtArmsLength contextRef="OneD">true</in-capmkt:WhetherSaleOrDisposalEventIsDoneAtArmsLength><in-capmkt:WhetherTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement contextRef="OneD">false</in-capmkt:WhetherTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement><in-capmkt:AnyOtherBriefSignificantInformationForSaleOrDisposal contextRef="OneI">In accordance with Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), as amended from time to time, we hereby inform that the Board of Directors of Kalpataru Power Transmission Sweden AB (“KPTS”), a wholly owned subsidiary of the Company at its meeting held today i.e. on 09th September, 2026, inter-alia, considered and approved the offering of equity shares held in LMG in the initial public offering being announced by LMG and listing of LMG’s shares on Nasdaq Stockholm. 

The offering is expected to consist of existing shares in LMG offered by KPTS and certain other selling shareholders being management investors (together, the “Selling Shareholders”). The offer by Selling Shareholders of equity shares having quota value of SEK 0.50 each is being made at an offer price representing a valuation for all shares in LMG following the offering of upto approximately SEK 2,350 million (equivalent to approx. Indian Rupees 2,324 Crores at current exchange rate), subject to such revisions as may be permissible under applicable laws and other customary requirements. 

The proposed offering remains subject to, inter alia, prevailing market conditions, receipt of necessary approvals and clearances, and such other customary considerations as may be applicable. Upon completion of the proposed offering and listing, LMG is expected to continue to remain a step-down subsidiary of the Company.
The above information was received by the Company from KPTS on 09th September, 2026 at about 10:00 a.m. IST.</in-capmkt:AnyOtherBriefSignificantInformationForSaleOrDisposal></xbrli:xbrl>
