Translation

worshiping, sage; sagaraaya+varam+praadaad= to Sagara, boon, bestowed, bhR^iguH + satyavataam +varaH= Bhrugu, among patrons of truth, prominent one. "Then, after the lapse of a hundred years of practising asceticism and worshiping, the Sage Bhrugu who is a prominent one among the patrons of truth, bestowed a boon to Sagara...