There are many names ascribed to the same feminine principle of God and Narayani is one of them. The Goddess is worshipped as the energy behind this universe, holding the power to expose the consciousness to achieve unity with the divine. Another meaning ascibed to this name is "the one who represents the real nature of the material world" and also denotes "the innate power behind ultimate god". It also means "she who provides the basis for all living things." she who is the personification of salvation, she who is fit to be worshipped by the Devas. There are 16 shlokas in Devi Mahatmyam that are called Narayani Stuti, in which this form of the Goddess is invoked and worshipped.
The homam is performed to seek all material benefits, increase abundance and accumulation of legitimate wealth.