प्तिलक्षणं श्रेयः, तच्च परस्यैव रूपमिति श्रेयः ।श्रियोऽस्य सन्तीति श्रीमान् ।त्रयाणां लोकानाम् आश्रयत्वात् लोकत्रयाश्रयः ॥
In plain words
What makes something the higher good, śreyaḥ, is that it can actually be reached — and what is reached is the very nature of the Supreme. So He is called Śreyaḥ, the Good Itself. Every splendour, every śrī, is His: so He is Śrīmān. And because the three worlds rest on Him, He is Lokatrayāśrayaḥ, the support of all three.
Close to the Sanskrit
That whose defining mark is [ā]pti — attainment — is śreyaḥ, the higher good; and that is precisely the nature of the Supreme: thus, Śreyaḥ. Splendours are His: thus, Śrīmān. From His being the support of the three worlds: Lokatrayāśrayaḥ.