"It is going to be a very tough contest. Can't say if they contest independently (they will return to power), but if they can get some sort of alliance with other parties, definitely they will be able to retain (power)," Reddy told PTI here.
"Small parties matter sometimes. In each Assembly constituency, transferring 2000-3000 votes in such a polarising situation will help," he said.
On the ongoing feud in SP, Reddy said it looks like most of the rank and file are rallying behind Chief Minister Akhilesh Yadav, who is also attracting the younger section of voters.
Reddy said the Left parties would take a "united decision" on their electoral strategy in the coming Assembly polls in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.
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According to him, firstly, the Left parties would like to have representation in Assemblies and would field candidates in segments where they can get "good number of votes".
"We will not contest all the seats because we don't want to split the votes that may help the BJP. We don't want to split the votes of secular parties also. At the same time, we cannot commit (political) suicide (by not fielding candidates where Left has a good base). We will carry on our political contest," Reddy said.
To achieve this objective, the Left parties are weighing the options of reducing the number of seats they wish to contest and also exploring the possibility of some electoral alliance so that they can get representation, he added.