99. angnganiniRikkE, ivaithanni AsrayamAgavudaiyan ennavumAm.
Other than the tapurusha samAsa that was shown previously, the nArAyaNa term can also be understood through the bahuvrIhi samAsa. That is, ayanam can be taken as that He dwells in the nAras.
Sri PBA Swami's Sarartha Deepikai:
It as told before that there are two ways in which the meanings of nArAyaNa can be derived - through the use of tatpurusha samAsa and bahvrIhi samAsa. In the previous sutra, tatpurusha samAsa was used to bring out the meaning. In this sutra, bahuvrIhi samAsa is used to bring out another meaning.
Through tatpurusha samAsa, it is gathered that He is the refuge of the eternal beings. Through bahuvrIhi samAsa, it can be gathered that He dwells within the eternal beings.