Here the word "we" refers to Peter as well as those to whom he is speaking. (See: [[rc://en/ta/man/translate/figs-inclusive]])
# Jesus Christ is the stone ... which has been made the head cornerstone
Peter is quoting from the Psalms. This is a metaphor that means the religious leaders, like builders, rejected Jesus, but God will made him the most important in his kingdom, as a cornerstone in a building is important. (See: [[rc://en/ta/man/translate/figs-metaphor]])
# head
Here the word "head" means "most important" or "vital."
# you as builders despised
"you as builders rejected" or "you as builders rejected as worth nothing"
# There is no salvation in any other person
The noun "salvation" can be translated as a verb. This can be stated positively. AT: "He is the only person who is able to save" (See: [[rc://en/ta/man/translate/figs-abstractnouns]])
# no other name under heaven given among men
This can be stated in active form. AT: "no other name under heaven that God has given among men" (See: [[rc://en/ta/man/translate/figs-activepassive]])
# no other name ... given among men
The phrase "name ... given among men" refers to the person of Jesus. AT: "no other person under heaven, who is given among men, by whom" (See: [[rc://en/ta/man/translate/figs-metonymy]])
# under heaven
This is a way of referring to everywhere in the world. AT: "in the world" (See: [[rc://en/ta/man/translate/figs-idiom]])
# by which we must be saved
This can be stated in active form. AT: "which can save us" or "who can save us" (See: [[rc://en/ta/man/translate/figs-activepassive]])