nityam shriyA vasudhayA cha niShevyamANam
	nirvyAjanirbhara dayAbharitam vibhAti |
vedAnta vedyamiha vegavatIsamIpe
	dIpaprakAsha iti daivatamadvitIyam ||

Meaning:

dIpaprakAsha 			- The Lord Vilakkoli (Deepa Prakasha), 
nityam 				- who is always
niShevyamANam 			- together
shriyA 				- with Sridevi
vasudhayA 			- and Bhudevi, 
dayA bharitam 			- who has complete mercy
nirvyAja 			- that needs no cause 
nirbhara 			- and is without limits, 
vedyam 				- who is to be understood
vedAnta 			- by the Vedantas, 
daivatam 			- who is the divinity
advitIyam 			- that has no parallel, 
iha 				- here
vegavatI samIpe 		- is present near Vegavati river.

Vyakhyana Saram:
Vilakkoli Perumal is in the divyadesam of Thiruththanka in kanchipuram near the Vegavati river. Just as the Paramapada Nathan is near the Viraja river, so too is Deepa Prakasha. And just as He has no equal, so too Vilakkoli Perumal has no equal. However, unlike Paramapada Nathan or even the vibhava avatara emperumAns, this archa mUrthy emperumAn is always here and visible to everyone. That is why it is being said that His mercy has no bounds and that it flows without needing a cause (nirhetuka krupa).

Swami Desikan says daivatam advitIyam to show that He is the height of everything and has no equal - so that no one can say that He has no equal but may have someone above Him. Azhvar did not stop at "oththAr ilaiyAya mAmAya!"; instead he said "oththAr mikkAr ilaiyAya mAmAya!" - Thiruvaymozhi 2-3-2.

In other sampradhayams, advitIyam means that there is no one but Him. In our sampradhayam, it means that there is no one equal to or above Him. That is, the prakruti and the jIvatmas all exist, but underneath and supported by Him. The example used here is: if a King is praised as having no equal, it does not mean that his family, children, subjects and kingdom do not exist; it only means that there is no one equal to him.