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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">543663</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-29</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543663</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-29</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingAxis"><in-capmkt:IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingDomain>IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingDomain1</in-capmkt:IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeetingDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">FIVESTAR</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">FIVE-STAR BUSINESS FINANCE LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">543663</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NA</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE128S01021</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:PurposeOfDisclosure contextRef="MainI">Schedule of Analysts or Institutional Investors Meet</in-capmkt:PurposeOfDisclosure><in-capmkt:StageOfMeetingOrCallOrConferenceOrEvent contextRef="MainI">Intimation</in-capmkt:StageOfMeetingOrCallOrConferenceOrEvent><in-capmkt:DateOfReport contextRef="MainI">2026-07-29</in-capmkt:DateOfReport><in-capmkt:TypeOfMeetingForWhichIntimationIsGiven contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Analyst Meet</in-capmkt:TypeOfMeetingForWhichIntimationIsGiven><in-capmkt:DateOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">2026-08-04</in-capmkt:DateOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:TimeOfCommencementOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">14:00:00</in-capmkt:TimeOfCommencementOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:NameOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">One-on-One meeting with Schroders</in-capmkt:NameOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:PlaceOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Virtual</in-capmkt:PlaceOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:NameOfTheFundOrCompanyOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Schroders</in-capmkt:NameOfTheFundOrCompanyOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation><in-capmkt:NameOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Yang Yang</in-capmkt:NameOfAnalystOrInstitutionalInvestorWithWhomTheMeetingIsScheduledForIntimation><in-capmkt:DesignationOfPersonWithWhomTheMeetingIsScheduledForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Analyst</in-capmkt:DesignationOfPersonWithWhomTheMeetingIsScheduledForIntimation><in-capmkt:TypeOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">One to One Meeting</in-capmkt:TypeOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:ModeOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Virtual</in-capmkt:ModeOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:AgendaOrReasonForMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">we wish to inform that the copy of Investor Presentation has been uploaded on the website of the Company at https://fivestargroup.in/investor-presentation/ and intimated to the Stock Exchanges vide letter dated July 25, 2026, for information of the public at large.

Discussions will be based on publicly available information. No unpublished price sensitive information (UPSI) is intended to be discussed during the meeting</in-capmkt:AgendaOrReasonForMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:WeblinkOfMeetingOrCallOrConferenceOrEventForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Not Applicable</in-capmkt:WeblinkOfMeetingOrCallOrConferenceOrEventForIntimation><in-capmkt:NameOfContactPersonForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">Srikanth G</in-capmkt:NameOfContactPersonForIntimation><in-capmkt:ContactDetailsOfContactPersonForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">9841421320</in-capmkt:ContactDetailsOfContactPersonForIntimation><in-capmkt:EmailIDOfContactPersonForIntimation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">ir@fivestargroup.in</in-capmkt:EmailIDOfContactPersonForIntimation><in-capmkt:WhetherIntimationOfMeetingIncludesPresentation contextRef="I_IntimationOrScheduleOfAnalystsOrInstitutionalInvestorsMeeting1">false</in-capmkt:WhetherIntimationOfMeetingIncludesPresentation></xbrli:xbrl>
