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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Schedule_Of_Analysts_Or_Institutional_Investors_Meeting/2026-03-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Schedule_Of_Analysts_Or_Institutional_Investors_Meeting/2026-03-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt-types" 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-2026-03-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">541988</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-26</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">AAVAS</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Aavas Financiers Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">541988</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE216P01012</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:PurposeOfDisclosure contextRef="MainI">Audio Recording/Video Recording</in-capmkt:PurposeOfDisclosure><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and with reference to our letter dated October 13, 2026 vide Ref. No. AAVAS/SEC/2026-27/3317, audio recording of Earnings Call with investors/analysts held on Monday, October 26, 2026 to discuss the Financial and Operational Performance of the Company for the Quarter and Half Year ended September 30, 2026 has been made available on the website of the Company under the following link: &lt;br /&gt; 
 &lt;br /&gt; 
https://www.aavas.in/investor-relations/investor-intimation.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-10-26</in-capmkt:DateOfReport><in-capmkt:TypeOfAudioRecordingOrVideoRecording contextRef="MainI">Audio Recording</in-capmkt:TypeOfAudioRecordingOrVideoRecording><in-capmkt:DateOfCallForAudioRecording contextRef="MainI">2026-10-26</in-capmkt:DateOfCallForAudioRecording><in-capmkt:TimeOfConclusionOfCallForAudioRecording contextRef="MainI">19:37:00</in-capmkt:TimeOfConclusionOfCallForAudioRecording><in-capmkt:DateOfDisclosureOfPriorIntimationOfEarningsCallToTheExchangeForAudioRecording contextRef="MainI">2026-10-13</in-capmkt:DateOfDisclosureOfPriorIntimationOfEarningsCallToTheExchangeForAudioRecording><in-capmkt:DateOfAudioRecordingUploadedOnWebsiteOfCompany contextRef="MainI">2026-10-26</in-capmkt:DateOfAudioRecordingUploadedOnWebsiteOfCompany><in-capmkt:TimeOfAudioRecordingUploadedOnWebsiteOfCompany contextRef="MainI">21:22:00</in-capmkt:TimeOfAudioRecordingUploadedOnWebsiteOfCompany><in-capmkt:WeblinkOfAudioRecording contextRef="MainI">https://www.aavas.in/investor-relations/investor-intimation</in-capmkt:WeblinkOfAudioRecording><in-capmkt:RemarksForWebsiteDisseminationForAudioRecordingOrVideoRecording contextRef="MainI">Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and with reference to our intimation dated October 13, 2026 vide Ref. No. AAVAS/SEC/2026-27/3317, please note that the audio recording of Earnings Call with investors/analysts held on Monday, October 26, 2026 to discuss the Financial and Operational Performance of the Company for the quarter and half year ended September 30, 2026 has been made available on the website of the Company under the following link: &lt;br /&gt; 
 &lt;br /&gt; 
https://www.aavas.in/investor-relations/investor-intimation.  &lt;br /&gt; 
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