Agree with all the posts here advising to spend your money where it will do more good. The 3-cylinder TDIs are all PDs (except some newer CRs), and PDs will never be ideal for high RPM where a cam will benefit. If your camshaft needs to be replaced anyway because it's worn, that's a different matter.
An upgraded turbo and injectors will be far more beneficial, from mild to wild. Pistons and rods also mostly interchange with other VAG engines if you cross the stage of very drastic modifications. Once you've done all these, then, yes, you could go back to the head and do a port, polish and big-valve upgrade with custom ground cam. You should be past 240 HP for that to even begin to make sense, though.