The parliamentary board is expected to take stock of the situation and chalk out future strategy. Prime Minister Narendra Modi and BJP chief Amit Shah are among the board's 12 members. Other members include union ministers Rajnath Singh, Arun Jaitley, Nitin Gadkari, Sushma Swaraj, Venkaiah Naidu, Ananth Kumar, Thawar Chand Gehlot and J P Nadda.
The meeting has been tentatively scheduled for Saturday, said a party source. However, the meeting may be postponed to Sunday, depending on how the election results pan out.
On Thursday evening, the exit polls projected a good performance by the party in Uttar Pradesh and Uttarakhand. The party also appears to have retained its position in Goa.
Manipur, on the other hand, seems indecisive with one poll reflecting Congress winning the state while another projects BJP as the front-runner. In Punjab, two polls forecast a tie between the Congress and Arvind Kejriwal's Aam Aadmi Party (AAP), while one puts AAP in the lead. However, the Akali-BJP incumbent alliance has not fared well.
Though the exit polls predict a happy ending for the party, please remember, predictions can often go wrong. The counting of votes will start on Saturday morning.
The election results will give critics a window to measure Prime Minister Narendra Modi's popularity and his chances of reclaiming a second term in 2019.
(With PTI inputs)