In plain words
The poet, longing for Vēṅkaṭam: I do not want the wealth in which one enjoys every pleasure, sitting high on the neck of a rutting elephant that makes all who see it tremble, nor this kingship that brings it. May I become one who has the merit to stand as a post, of use to no one, on the lovely mountain of Vēṅkaṭam, the hill of my Lord, the Lord of all.