There is no real conflict between this and the scientific explanation of how Earth came to be.
I fully agree that there is no conflict if you don't take it literally... so why mention science? It has nothing to do with science.
Obviously the ancient Hindus didn't have string theory, inflation theory, Einstein's relativity, Newton's law of universal graviation, and a host of other theories and physical laws which have been discovered in the last few hundred years, so unless you take it metaphorically, its not at all compatible with the scientific explanation.
It was an attempt at explaining the existence of the world by one of the most advanced cultures of their time (but still techologically and scientifically primitive by our standards). I do appreciate myths for their poetic value, but it really is inappropriate and irrelevant to compare ancient myths meant to be taken metaphorically, with modern science which is meant to be taken literally. Its perfectly possible to have a discussion about a lovely story or myth without having to try and mix it with science.
Both are separate art forms, its like saying that there's no conflict between the rules of football and the rules of chess... of course there's no conflict; they have nothing to do with one another.