In plain words
The poet, of Tirumāliruñcōlai: The hill of the Spotless One, who plays so, digging up the earth and bearing it on his tusk [as the Boar], taking the earth as a gift into his cupped palm and measuring it [from Mahābali], and again swallowing it and bringing it up, is Māliruñcōlai, which has the cool, rushing Cilampāṟu, bringing the many treasures it gathers [gold, pearls and fragrant wood] as an offering at the feet of our Lord.