This is a Lakshmi Beeja Mantra and when chanting this mantra, you need to invoke the name of the deity of whom you are seeking blessings.
For MahaLakshmi or Maa Durga, you can chant the names of ten forms of Maa Durga including Lakshmi, Saraswati and Kaali. Ensure complete focus on the goddesses when chanting this mantra.
