In plain words
The poet, of the Lord's feet: The feet of the Lord who loves us, whose red eyes [like lotuses] show plainly that he is the Supreme, who stands firm and fitted to that one work of guarding the worlds, who swallowed the worlds and spat them out again, and who that day received the water [of Mahābali's gift] and spanned the worlds with three strides: those feet alone are the medicine [that cures the sickness of births], the wealth [that wins what we desire] and the nectar [sweet to enjoy].