<?xml version="1.0" encoding="UTF-8"?>
<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/in-capmkt/in-capmkt-ent" 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/2026-04-30/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.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">DHARARAIL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-24</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_AwardingOfOrdersOrContracts"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">DHARARAIL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-24</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:AwardingOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_AwardingOfOrdersOrContractsMember"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">DHARARAIL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-24</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:AwardingOrBaggingOrReceivingOrAmendmentOrTerminationOfOrdersOrContractsAsPerSubPara4OfParaBAxis">in-capmkt:AwardingOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">DHARARAIL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">DHARA RAIL PROJECTS LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">000000</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE2HJL01019</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Awarding, Bagging/Receiving, Amendment or termination of orders/contracts (Sub-para 4-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_AwardingOfOrdersOrContracts">Awarding of order(s)/contract(s)</in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-06-23</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">18:00:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-06-24</in-capmkt:DateOfReport><in-capmkt:NameOfTheEntityToWhichOrdersOrContractsIsAwarded contextRef="I_AwardingOfOrdersOrContractsMember">MINISTRY OF RAILWAYS</in-capmkt:NameOfTheEntityToWhichOrdersOrContractsIsAwarded><in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness contextRef="I_AwardingOfOrdersOrContractsMember">true</in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness><in-capmkt:WhetherOrdersOrContractsIsAwardedToDomesticOrInternationalEntity contextRef="I_AwardingOfOrdersOrContractsMember">Domestic</in-capmkt:WhetherOrdersOrContractsIsAwardedToDomesticOrInternationalEntity><in-capmkt:WhetherTheCounterpartyIsIndianListedEntity contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheCounterpartyIsIndianListedEntity><in-capmkt:LEIOrCINOrRegistrationNumberOfTheCounterparty contextRef="I_AwardingOfOrdersOrContractsMember">AAAGM0289C</in-capmkt:LEIOrCINOrRegistrationNumberOfTheCounterparty><in-capmkt:WhetherTheCounterpartyBelongsToGroupCompaniesOfAnyIndianListedEntity contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheCounterpartyBelongsToGroupCompaniesOfAnyIndianListedEntity><in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists contextRef="I_AwardingOfOrdersOrContractsMember">INDIA</in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists><in-capmkt:DateOfAwardOfOrdersOrContracts contextRef="I_AwardingOfOrdersOrContractsMember">2026-06-23</in-capmkt:DateOfAwardOfOrdersOrContracts><in-capmkt:AmountOfTheOrdersOrContracts contextRef="I_AwardingOfOrdersOrContractsMember" unitRef="INR" decimals="2">20415638.83</in-capmkt:AmountOfTheOrdersOrContracts><in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded contextRef="I_AwardingOfOrdersOrContractsMember">“Repair &amp; Maintenance Service Contract for Cummins Engine (B, C &amp; D Checks) and Major Components of 8-Wheeler Tower Wagon in KYQ, CPK, SCE and LMG Depot under Lumding Division for Two (02) Years.”</in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded><in-capmkt:TimePeriodToWhichOrdersOrContractsIsAssociated contextRef="I_AwardingOfOrdersOrContractsMember">24 months</in-capmkt:TimePeriodToWhichOrdersOrContractsIsAssociated><in-capmkt:BroadCommercialConsiderationOrSizeOfTheOrdersOrContracts contextRef="I_AwardingOfOrdersOrContractsMember">Rs. 2,04,15,638.83 (including GST).</in-capmkt:BroadCommercialConsiderationOrSizeOfTheOrdersOrContracts><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded><in-capmkt:WhetherTheOrderOrContractWouldFallWithinRelatedPartyTransactions contextRef="I_AwardingOfOrdersOrContractsMember">false</in-capmkt:WhetherTheOrderOrContractWouldFallWithinRelatedPartyTransactions></xbrli:xbrl>
