All Indian metros without exception are managed by SPVs.
Land acquisition is not something that gets over. It is a continuous process. Then the court cases if any always show up with some delay, and that can revoke transfers. Then you have to look for alternative land parcels, which may involve minor reroutes in the worst case. It's the same with finances, everything comes in tranches, land, money, everything.
> Pune
You can see this entire documentation[1], make sure to click on the two section headers to reveal content. While no doubt the document might mislead you about the extent of the delay, and really % done means nothing in these projects where the unknowns are unknown, you can clearly see it's the exact coordination issues I had mentioned earlier: utility coordination, handling expanding flyovers/roads, etc.
> All are perpetually delayed
Because, it's not an internal organisation issue or a personnel issue (i.e "hire more engineers"). The exact organisation does not matter when the problems are of the external kind mentioned above.
Now, the problems mentioned in TFA don't occur here because the SPVs house long term employees with - for government standards - fairly robust institutional knowledge.
The top comment now has content refuting the article:
https://news.ycombinator.com/item?id=48582433
> Look at the memes for Pune metro line 3 and for Karnataka metro (forgot which line)
The same memes exist everywhere: https://news.ycombinator.com/item?id=48582563
> Even though private
If you want real private efficiencies, you have to give the entire responsibility of many departments to the private company. So, a near-private whole sub-municipality. Just making the metro SPV private is meaningless, although definitely better than having it under PWD...
[1] https://www.pmrda.gov.in/en/pune-metro-line-3/maan-hinjawadi...