āpane - personally; puruṣa - Lord Viṣṇu; viśvera - of the entire material world; nimitta kāraṇa - the original cause; advaita-rūpe - in the form of Advaita; upādāna - the material cause; hana - becomes; nārāyaṇa - Lord Nārāyaṇa.

Lord Viṣṇu Himself is the efficient [nimitta] cause of the material world, and Nārāyaṇa in the form of Śrī Advaita is the material cause [upādāna].