<?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">500182</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-06</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">500182</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-08-06</xbrli:startDate><xbrli:endDate>2026-08-06</xbrli:endDate></xbrli:period></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">500182</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">HERO MOTOCORP LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">HEROMOTOCO</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE158A01026</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Acquisition of “to be incorporated companies”</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="OneI">2026-08-05</in-capmkt:DateOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">19:45:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DateOfReport contextRef="OneI">2026-08-06</in-capmkt:DateOfReport><in-capmkt:NameOfHoldingCompany contextRef="OneI">Hero MotoCorp Limited</in-capmkt:NameOfHoldingCompany><in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity contextRef="OneD">Listed Entity (self)</in-capmkt:RelationshipOfHoldingCompanyWithTheListedEntity><in-capmkt:NameOfTheIncorporatedEntity contextRef="OneI">Hero MotoCorp Foundation - A Santosh
Munjal Legacy</in-capmkt:NameOfTheIncorporatedEntity><in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs contextRef="OneI">Non-profit organisation</in-capmkt:IndustryToWhichTheEntityBeingIncorporatedBelongs><in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness contextRef="OneI">A company under Section 8 of the Companies Act, 2013 is
proposed to be incorporated for Corporate Social
Responsibility initiatives.</in-capmkt:BriefBackgroundAboutTheEntityIncorporatedInTermsOfProductsOrLineOfBusiness><in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheIncorporation contextRef="OneD">Yes</in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheIncorporation><in-capmkt:ProvideBriefDetailsOfAnyGovernmentalOrRegulatoryApprovalsForTheIncorporation contextRef="OneI">For incorporation of a company under Section 8 of the
Companies Act, 2013, approval of the Central Government / Ministry of Corporate Affairs, is required</in-capmkt:ProvideBriefDetailsOfAnyGovernmentalOrRegulatoryApprovalsForTheIncorporation><in-capmkt:NatureOfConsiderationForIncorporation contextRef="OneD">Cash</in-capmkt:NatureOfConsiderationForIncorporation><in-capmkt:AmountOfCashConsiderationForIncorporation contextRef="OneD" unitRef="INR" decimals="-7">10000000</in-capmkt:AmountOfCashConsiderationForIncorporation><in-capmkt:DetailsOfConsiderationForIncorporation contextRef="OneI">Equity Shares</in-capmkt:DetailsOfConsiderationForIncorporation><in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed contextRef="OneD">Cost/Price</in-capmkt:CostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed><in-capmkt:DetailsOfCostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed contextRef="OneI">10000000</in-capmkt:DetailsOfCostOfSubscriptionOrThePriceAtWhichTheSharesAreSubscribed><in-capmkt:PercentageOfShareholdingOrControl contextRef="OneI" unitRef="pure" decimals="INF">1</in-capmkt:PercentageOfShareholdingOrControl><in-capmkt:DateOfIncorporation contextRef="OneI">2026-08-06</in-capmkt:DateOfIncorporation><in-capmkt:CountryInWhichTheEntityIsIncorporated contextRef="OneI">India</in-capmkt:CountryInWhichTheEntityIsIncorporated><in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent contextRef="OneI">A company under Section 8 of the Companies Act, 2013 is
proposed to be incorporated for Corporate Social
Responsibility initiatives.</in-capmkt:AnyOtherBriefSignificantInformationForIncorporationEvent></xbrli:xbrl>