In plain words
All of this arose from the first letter, and all of it returns into the first letter. Knowing this, let me take up each letter from the first onward and sing Your glory. Salutation to Nārāyaṇa.
Word for word
Considering that all this arose in the first letter and that all this merges in the first letter, grant that I take each of these, from the first letter on, and sing its praise. Salutation to Nārāyaṇa.