sukR^italavavihInam shuddhabhAvairvimuktam
	duritashataniketam dUrayAtam dayAyA: |
punarapi janamenam vIkshase rakshitum tvam
	bhuvanagururasIttham kopi vAtsalyasindhu: ||

Meaning:

O! Lokacharya.
tvam 				- You
punarapi 			- again
rakshitum vIkshase 		- try to protect
enamjanam 			- me,
sukR^italava vihInam 		- who does not possess any good deeds,
duritashata niketam 		- who is the home for many sins,
shuddhabhAvai: vimuktam 	- who has been given up by good thoughts,
dayAyA: 			- and who leaves your grace
dUrayAtam 			- and goes far away.
ittam 				- This way, (you who are)
kopi 				- an unparalleled
vAtsalya sindhu: 		- ocean of compassion
bhuvanaguru: asi 		- become the acharya for this world.

Vyakhyana Saram:
In this shloka, Swami Desikan celebrates the quality of compassion in Pillai Lokacharyar. He states that he possessed no good deeds and was the home for all bad deeds. Due to that he did not seek Pillai Lokacharyar and instead went far away from him. However, due to his great vAtsalyam which is literally an ocean (similar to Namperumal calling Manavala Mamunigal an ocean of good qualities "guNa arNavam"), Lokacharyar ignores that behaviour. Again and again, without waiting for anyone, he comes himself and protects. This is what Madhurakavi Azhvar said about Nammazhvar in his pasuram as "payan anRAgilum paNgu allar Agilum seyal nanRAgath thirththi paNi koLvAn". It is due to this quality that he is the acharya for this world (lokAcharya) and not just to a few disciples.