Infomedia India has announced a buyback of 14% of paid up share capital at a price of Rs 245 a share.

The company's Managing Director Prakash Iyer says that now they will continue their agenda, that is to try and grow the business, create value and find ways to make the business a whole new business.

He further adds that the JV with Reed is off to great start and they remain open to opportunities in terms of acquistions that would make strategic sense for them.

Excerpts from CNBC-TV18's exclusive interview with Prakash Iyer:

Q: What are the plans going forward? What is the holding currently?

A: Now since we have completed our buyback, we still remain open to continue with our agenda, which was to try and grow the business, create value and find ways to make this a whole new business.

Q: What kind of growth in terms of topline and bottomline can we expect from you, since you have added two more companies to your basket?

A: If I look at our continuing businesses, the core being our yellow pages and our special interest magazines, this year we are actually tracking double-digit growth on that. That is encouraging and we are looking to continue that for the rest of the year.

If I look at what the BPO business will add to our topline, even if I just look at it as a status quo at the end of March this year when we bought the businesses, we should be adding something like Rs 30 crore to our topline.

If we add the profit from the BPO business and then try and consolidate it into our earnings for Infomedia, then we should be looking at something upwards of 70-75% growth in terms of our bottomline there. We are encouraged by the fact that there is something happening out here.

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