Aiśvarya (from the root 'īśvara' — lord, ruler) carries two distinct but related meanings in Śrī Vaiṣṇava theology. In the primary theological sense, it denotes one of the six kalyāṇa guṇas of Bhagavān — jñāna (omniscience), bala (omnipotence), aiśvarya (sovereignty), śakti (creative power), vīrya (immutability), and tejas (resplendence). As a kalyāṇa guṇa, aiśvarya refers to Bhagavān's absolute and unconditioned lordship over all existence: He is the Īśvara (ruler) of every sentient being (cit) and every non-sentient thing (acit), and there is no domain within the universe — material or spiritual — over which His sovereignty does not extend. This is what distinguishes Bhagavān from all other beings including Brahmā, Śiva, and the liberated souls: they may have extraordinary powers but their lordship is conditioned and derivative, whereas Bhagavān's aiśvarya is intrinsic, eternal, and absolute.
In Viśiṣṭādvaita philosophy, the six kalyāṇa guṇas (also called Ṣaḍ-guṇas) are not separate attributes appended to Bhagavān's being but are the very substance of His svarūpa (essential nature). They eternally inhere in Him without diminution or modification. Aiśvarya thus expresses not merely that Bhagavān is powerful but that lordship and sovereignty constitute part of what Bhagavān essentially is. The Āzhvārs reflect this understanding when they address Bhagavān as 'Emperumān' ('great lord') and 'Nampī' ('our sovereign') — names that directly point to His aiśvarya.
In a second sense, aiśvarya refers to material wealth, prosperity, and worldly power — the riches that people ordinarily seek. This sense is the backdrop for some of the Āzhvārs' most passionate passages. Nammāzhvār, Tirumangai Āzhvār, and others explicitly contrast the fleeting and hollow nature of worldly aiśvarya with the inexhaustible bliss of Bhagavad-anubhava. This renunciation is not merely ascetic indifference but arises from the Āzhvārs' direct experience: having tasted Bhagavān's presence, all worldly aiśvarya becomes tasteless and even burdensome by comparison. The Mumukṣuppadi and Srivachana Bhūṣaṇam caution that seeking worldly aiśvarya as a goal is a fundamental misidentification of what the jīva truly needs, since no amount of material lordship can satisfy the jīva's intrinsic longing for Bhagavān.
For the Prapanna (one who has performed Prapatti), aiśvarya — in either sense — is not to be desired for its own sake. The Āchāryas teach that a Prapanna's only desire should be for kaiṅkarya (service to Bhagavān and His devotees). Even the aiśvarya of Brahmā's position is renounced by the true Prapanna as a distraction from this single goal.