A rattled BJP on Saturday attributed "collective failure" to its dismal showing in the Lok Sabha elections with a party strategist saying projection of Narendra Modi as future prime minister was an "error of judgement".
"It is a collective failure," BJP general secretary Arun Jaitley said while conceding defeat to the Congress-led UPA alliance.
He, however, said there would be no change in party's ideology.
Putting up a brave face, Jaitley said the BJP honoured the mandate of the people with "due respect".
Commenting on performance of the party, he said "we performed well in some places but we performed below expectation in some other states.
BJP's strategist Chandan Mitra said projecting Gujarat chief minister Modi as the party's next prime ministerial candidate was a mistake.
"Bringing up Modi's name in the middle of the campaign was a serious error of judgement," he said, adding the comments in this connection were personal opinion of a senior leader which were seen as the feeling of the party."
"It was a mistake, though every attempt was made to cover it up," Mitra said.
BJP leader Arun Shourie had put forward Modi's name as a possible prime ministerial candidate in the 2014 elections, a view which was supported by several party leaders.
Conceding defeat, Jaitley said the party will analyse the causes for the dismal performance.
He said BJP's Parliamentary Board will meet and assess the reasons for the performance which was way "below its own expectations."
"UPA has clearly emerged as the largest alliance. So we can say the mandate is in its favour," he said, adding "we respectfully accept this verdict."
Asked if BJP was conceding defeat, Jaitley said "it is the natural consequence of the results."
He parried questions whether party's prime ministerial candidate LK Advani will continue as Leader of Opposition in the Lok Sabha.
BJP president Rajnath Singh said the results were not on the lines the party and NDA had expected. "Results in Delhi, Rajasthan and Maharastra are against our expectations."
He said Advani "was and will remain" BJP and NDA leader. "There is no split in the NDA and I don't think any of our allies will join UPA."