shrIvatsarUparuchiropyarati: priyA te
	prItimadhudviShi bhavaprabhavA na bhIti: |
lokAvalIvimalalochanagocharA~Nga:
	kR^iShNAtmajastvamapara: kimu manmathosi ||

Meaning:

api shrIvatsarUparuchira: asi 	- (O Lokacharya!) You have the form like that of Vishnu and are therefore beautiful (like Manmatha).
tatApi 				- But
te priyA 			- your wife
arati: 				- is different from Rati devi.
te prIti: madhudviShi 		- you have affection for the enemy of Vasantarutu.
bhava prabhavA bhIti: 		- The fear of Shiva
na 				- is not there
te 				- for you.
loka AvalI vimala lochana 
  gochara a~Nga: bhavasi 	- You have the form that is the target for the spotless eyes of the crowds of people.
kR^iShNa Atmaja: tvam 		- You who are the son of Krishna (Vadakku Thiruveedhi Pillai)
apara: manmatha: asi kimu 	- are like another Manmatha.

Vyakhyana Saram:
In this shloka, Vedanta Desikan is considering Pillai Lokacharyar as another Manmatha. Manmatha is the son of Krishna. Pillai Lokacharyar is the son of Vadakku Thiruveedhi Pillai whose name is also Krishna. Pillai Lokacharyar too has a beautiful form just like Manmatha.

However, there are also some key differences between the two. Manmatha's wife is Rati devi. Rati means the pleasure or love. Pillai Lokacharyar's affection goes to 'arati' - that is, he has distate and indifference toward worldly pleasures.

Manmatha has love for Vasantarutu which is also known as madhu. It is during the season of Vasanta that Manmatha incites desire in people. Lokacharyar has love for the enemy of the asura Madhu, which is Sriman Narayana.

Manmatha fears Shiva who is also known as Bhava:. Pillai Lokacharyar has no fear of samsara (also known as bhava:) as He is the devotee of Vishnu.

Manmatha's body was burned by Shiva and therefore no one can see him. Pillai Lokacharyar has the form that is visible to people whose eyes are virtuous to be able to see him.