The latest polls suggest that the Tories will secure some 314 out of 650 seats in the House of Commons. The Labour Party would secure 266 seats.
What this means is that the Conservative Party would not reach the required majority of 326 seats to form a government.
The underlying prediction is a hung parliament.
The Scottish National Party is forecast to take a hit, winning 34 seats, 22 fewer than in the last election.
The Liberal Democrats with a forecasted 14 seats is slated to play a key role in the formation of a coalition government.
The official results should be forthcoming in the coming hours.
According to the NYT
According to the exit poll, Mrs. May may have lost the extraordinary gamble she made in calling the election — and Britain may be headed for a hung Parliament, in which no party has a majority.
Poll results found that the Conservatives would remain the largest party, but they were projected to win only 314 seats, down from 331 won in 2015, and 12 votes short of a majority.
the BBC poll estimates that the Tories would be short of a majority of 17 votes.