<?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>2026-09-16</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>2026-09-16</xbrli:startDate><xbrli:endDate>2026-09-16</xbrli:endDate></xbrli:period></xbrli:context><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">Update</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="OneI">2026-09-16</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="OneD">16:27:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfInitialAnnouncement contextRef="OneI">2026-09-09</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="OneI">2026-09-16</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="OneI">2026-09-16</in-capmkt:DateOfReport><in-capmkt:UpdateForTheEvent contextRef="OneD">Sale or disposal of unit(s)/division(s)/subsidiary</in-capmkt:UpdateForTheEvent><in-capmkt:BriefDetailsOfInitialAnnouncement 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, the Company vide its intimation dated 09th September, 2026 had informed that the Board of Directors of Kalpataru Power Transmission Sweden AB (“KPTS”), a wholly owned subsidiary of the Company at its meeting held on 09th September, 2026, inter-alia, considered and approved the offering of equity shares held in Linjemontage I Grästorp AB, a (96.12%) first level step down material subsidiary of the Company (“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.</in-capmkt:BriefDetailsOfInitialAnnouncement><in-capmkt:ReasonForUpdate contextRef="OneD">Others</in-capmkt:ReasonForUpdate><in-capmkt:OtherUpdates 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, and in furtherance to our earlier intimation dated 09th September, 2026 submitted to the stock exchanges, this is to further update that the Board of Directors of LMG today, i.e. 16th September, 2026, has, inter-alia, considered and approved the Prospectus in connection with the initial public offering of LMG, which also comprises of sale up to 15,466,413 equity shares (including green shoe option) of quota value of SEK 0.50 each held by Kalpataru Power Transmission Sweden AB, for a consideration of SEK 46 per share, representing approximately up to 30.19% equity share capital of LMG. Further, LMG has today received approval from the Swedish Financial Supervisory Authority (SFSA) on Prospectus in relation to the initial public offering. 

The above information was received by the Company from LMG on 16th September, 2026 at about 04:27 p.m. IST.</in-capmkt:OtherUpdates></xbrli:xbrl>
