Aakash Chaudhry is in a dilemma. His 30-year-old coaching institute needs a revamp. But there’s no roadmap for what he needs to do.

We’re sitting across a giant U-shaped table from Chaudhry, at the headquarters of Aakash Education Services Limited (AESL) in Delhi. As Chaudhry, the company’s chief executive officer, walks us through a presentation on the company’s growth plans, his stoic expression cracks as he says, “It’s such a complex time.