Hi Asiq Raja,
It is quite difficult to answer your question just having a code snippet you've sent. But I would suppose that you didn't add Gpsvalue to the layer items. Your code should have something like that:
I am not sure how you are using the Dynamic layer in your application. Usually it uses the DynamicSource property with a class which implements the IMapDynamicSource interface that has functionality for adding items to the layer using callback.
I would recommend you to take a look to the following documentation topics and online examples:
the Telerik team
Do you want to have your say when we set our development plans? Do you want to know when a feature you care about is added or when a bug fixed? Explore the Telerik Public Issue Tracking
system and vote to affect the priority of the items