BJP which won 13 of the 40 seats in Goa elections, is in talks with Goa Forward and Maharashtrawadi Gomantak Party (MGP) as well as independents over the formation of an alliance.
Subhash Velingkar-led Goa Suraksha Manch, which drew a blank, polled 1.2 per cent votes.
Goa election results: The Congress is likely to stake claim to form the government Sunday after holding the meeting of its new MLAs, who will elect their leader.
Senior BJP leader and Defence minister Manohar Parrikar is expected to attend the meeting.
The Congress’s tally of 17 includes six seats that it wrested back from the BJP — Mandrem, Tivim, St Cruz, St Andre, Siroda and Cuncolim.
After Saturday’s results, in which AAP failed to secure even one of the 40 seats it contested, the party might have to now examine the faultlines they ignored.
“The mandate is fractured, Our vote share was five per cent more than (Congress). It’s luck factor that we didn’t manage more seats,” he said.
The first indications of the BJP losing Goa were evident one hour into counting, with CM Laxmikant Parsekar trailing Dayanand Sopte of the Congress.
The MGP is Goa's first ruling party after Portuguese rule ended in the state in 1961.
Goa Chief Minister Laxmikant Parsekar, who failed to retain his assembly seat, resigned after failing to steer his party BJP to victory.
Goa elections - Parrikar said: "It's a fractured mandate, let us see what happens. We will wait for independent parties to decide."
Faleiro, however, was non committal on whether he will approach the Goa Forward Party seeking an alliance with Vijai Sardesai.
Goa Forward which came into existence just a year ago, has won three seats, making its role crucial in the formation of next government. Another regional outfit, MGP, has bagged three seats.
AAP, which was contesting the elections for the first time in the state under leadership of Elvis Gomes, failed to make any impact in the state.
Congress candidate Dayanand Raghunath Sopte has won the election by securing over 8,700 votes.
Goa election results 2017: It's a hung assembly, Congress and BJP need the support of MGP and Goa Forward to form government in the state.
Party sources told The Indian Express that leaders at the meeting would look at ways to bring Defence Minister Manohar Parrikar back as chief minister.
The visit is part of the International Election Visitor Programme, 2017, organised the by Election Commission of India in cooperation with UNDAP.
List of winners from the 2017 assembly elections in Goa.
Goa Assembly election results 2017: Here's what exit polls predict will happen on March 11, 2017. Get the latest on who will win Goa elections, here.
The results for assembly elections 2017 will be declared on March 11.
It was alleged, particularly on social media platforms, that against the budgeted Rs 40 crore, Rs 57 crore were spent.
Sinha said she will refrain from making any policy statement, since the Model Code of Conduct is in force post February 4 assembly polls.
There are total 15,590 postal ballots, of which the state Chief Electoral Officer has received 9,579 ballots so far.
Congress Secretary Girish Chodankar said that this was done "to help the BJP by pressurise the government servants to vote for the party."