Speech development. Something about it?

Hello sir/maam..my baby boy is 1 year and 20 days old..he is very active and playful..has completed all physical milestones..is very affectionate towards his mumy papa..he understands few words also, like he waves when we say bye, folds hands when we say pray, dances on the word dance..follows instructions sometimes like come here and give me, but he doesn't speak rather than just few babbles here n there..he has no meaningful word yet..doesn't call us mumy papa..just say 'tatatata' once in a day or say 'hmm'..he doesnot point to mumy papa when asked but he points towards TV when asked..is his speech delayed?..should i do something about it? Also its very difficult to maintain consistent eye contact with him as he is always occupied with something and is on the run