madhuripumahilAyA: sphitavIkshAsarojAt
	madhuraphaNitibhR^i~NgI nirgatA kAsideShA |
bhuvanaguru padAbja dhvandva niryanmaranDAn
	anudinamanubhUyAnanda sAndrA mamAstu ||

Meaning:

eShA 				- This
mama 				- my
kAsit 				- unparalleled
madhuraphaNiti bhR^i~NgI 	- sweet speech which is like a female bee
nirgatA 			- came out of
sphita vIkshA sarojAt 		- the broad eyes lotus like eyes of
madhuripu mahilAyA: 		- Sri Mahalakshmi who is the wife of Madhusudhana.
astu 				- May it
Ananda sAndrA 			- get fattened due to happiness
anubhUya 			- by drinking
anudinam 			- every day
bhuvanaguru padAbja dhvandva 
  niryanmaranDAn 		- the honey that flows out of the divine lotus feet of Pillai Lokacharyar.

Vyakhyana Saram:
Swami Desikan's speech became sweet and divine because it came out of the lotus like eyes of Sri Ranga Nachchiyar. He says they are like the bee that left the lotuses that are Sri Mahalskhmi's divine eyes. Having left these lotuses, it is now fattening itself due to the great pleasure of drinking the sweet nectar which are the words of Swami Pillai Lokacharyar.

He got his ability to write divine poetry due to the blessings from the divine look of Sri Mahalakshmi. That capacity gained its purpose by praising Pillai Lokacharyar.