Finally, the Google search does result in orkut profile information. This setting has been present in Orkut settings tab, since long time. But no result was displayed in the Google search. However, recently Google has added the Orkut profile URL as a result in search.
This makes sure that in order to view the profile you must have a orkut profile and the privacy settings of the owner are appreciated.
Currently only SandBox profiles are listed, but very soon, the normal profiles will also be listed.
As you can see above, this is the google search results for the keyword Pranav Prakash. In the last result is my sandbox orkut profile.
Similarly, this is the google search results for the keyword Aakash Bapna. In the last result is sandbox orkut profile.