A manager at Indian dairy manufacturer Tirumala Milk Products Private Limited has confirmed to just-food that the company is the target of a purchase bid by France-based food multinational Danone.

Speaking from the headquarters of the Hyderabad-based company, the manager - who wanted to remain anonymous - said: "Talks are still on but nothing has been finalised as yet."

The company has declined to make any public comment on the takeover rumours. 

The official could not give a date for when a statement would be made by Tirumala's managing director Bolla Brahma Naidu.

His company had annual sales of Indian Rupees INR15bn (US$242m) in the 2011/2 fiscal year and produces a diverse range of dairy products, from milk to sweets, ghee, paneer butter milk, butter, curd, lassi and ice cream.