śrī-prajāpatayaḥ ūcuḥ - the great personalities who created the various living beings offered their prayers by saying; prajā-īśāḥ - the prajāpatis created by Lord Brahmā, who have created generations of living entities; vayam - we; te - of You; para-īśa - O Supreme Lord; abhisṛṣṭāḥ - born; na - not; yena - by whom (Hiraṇyakaśipu); prajāḥ - living entities; vai - indeed; sṛjāmaḥ - we create; niṣiddhāḥ - being forbidden; saḥ - he (Hiraṇyakaśipu); eṣaḥ - this; tvayā - by You; bhinna-vakṣāḥ - whose chest has been split; nu - indeed; śete - lies down; jagat-maṅgalam - for the auspiciousness of the whole world; sattva-mūrte - in this transcendental form of pure goodness; avatāraḥ - this incarnation.

The prajāpatis offered their prayers as follows: O Supreme Lord, Lord of even Brahmā and Śiva, we, the prajāpatis, were created by You to execute Your orders, but we were forbidden by Hiraṇyakaśipu to create any more good progeny. Now the demon is lying dead before us, his chest pierced by You. Let us therefore offer our respectful obeisances unto You, whose incarnation in this form of pure goodness is meant for the welfare of the entire universe.