Srimad Bhagavatam Canto 07, Chapter 08, Text 56

SB 7.8.56

sri-visnu-parsada ucuh
adyaitad dhari-nara-rupam adbhutam te
 drstam nah saranada sarva-loka-sarma
so ’yam te vidhikara isa vipra-saptas
 tasyedam nidhanam anugrahaya vidmah
Translation by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada: 
The associates of Lord Visnu in Vaikuntha offered this prayer: O Lord, our supreme giver of shelter, today we have seen Your wonderful form as Lord Nrsimhadeva, meant for the good fortune of all the world. O Lord, we can understand that Hiranyakasipu was the same Jaya who engaged in Your service but was cursed by brahmanas and who thus received the body of a demon. We understand that his having now been killed is Your special mercy upon him.
Purport by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada: 
Hiranyakasipu’s coming to this earth and acting as the Lord’s enemy was prearranged. Jaya and Vijaya were cursed by the brahmanas Sanaka, Sanat-kumara, Sanandana and Sanatana because Jaya and Vijaya checked these four Kumaras. The Lord accepted this cursing of His servants and agreed that they would have to go to the material world and would then return to Vaikuntha after serving the term of the curse. Jaya and Vijaya were very much perturbed, but the Lord advised them to act as enemies, for then they would return after three births; otherwise, ordinarily, they would have to take seven births. With this authority, Jaya and Vijaya acted as the Lord’s enemies, and now that these two were dead, all the Visnudutas understood that the Lord’s killing of Hiranyakasipu was special mercy bestowed upon them.
Thus end the Bhaktivedanta purports of the Seventh Canto, Eighth Chapter, of the Srimad-Bhagavatam, entitled “Lord Nrsimhadeva Slays the King of the Demons.”
Srimad Bhagavatam Canto 07, Chapter 08, Text 55
Srimad Bhagavatam Canto 07, Chapter 08 Overview