"The possibility of a poll alliance between the saffron party and SNDP cannot be ruled out,"he told a press meet here.
He, however, dismissed media reports that Natesan would be the Chief Ministerial candidate of the BJP-led third front alliance in the coming assembly election.
"The core objective of BJP is to showcase a strong fight against Congress and CPI(M) led fronts. We were alone in our fight against the two fronts so far and it is happy to see that more people are joining us in the mission," he said.
The leader, however, said his party had not taken any decision to make Natesan as the Chief Ministerial candidate of the BJP-led third front during the assembly polls.
"The party has not initiated any discussion on who will lead the election campaign during assembly polls or who will be the Chief Ministerial candidate. Winning seats is more important," he said.
The state party chief also said he was happy that the focus of media discussion had been shifted from whether the saffron party would open an account in the state to who would be its Chief Ministerial candidate.
Earlier, Natesan, who arrived here from Delhi this morning after meeting Modi, said both Congress and CPI(M) were losing ground in the state and both parties were criticising him as they were scared of the strength of SNDP.
Meanwhile,Congress and CPI(M) today continued their attack on Natesan for meeting Modi and asserted that the BJP-SNDP partnership would not change the state's political scenario.
Marxist veteran and state opposition leader V S Achuthanandan ridiculed Natesan's Delhi trip as a "family visit", which included his wife and son. The nonagenarian leader also alleged that Natesan meeting with PM was for financial and business gains.
Though Natesan had claimed no politics in his meeting with Modi, it is widely seen as a step forward by SNDP towards the saffron party ahead of the coming local body elections and assembly polls due next year.
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