vibhāvyante yathā-tatham

yena-by whom (Narayana); sva-dhamni-although in His own place, the spiritual world; ami-all these; bhavah-manifestations; rajah-sattva-tamah-mayah-created by the three modes of material nature (passion, goodness and ignorance); guna-qualities; nama-names; kriya-activities; rupaih-and with forms; vibhavyante-are variously manifested; yatha-tatham-exactly to the right point.