Leader of the Nepali Congress party Ram Chandra Poudel was elected as new Nepali president on Thursday, according to local media. 

State-run Nepal Television said 78-year-old Paudel, a former speaker of parliament, was elected by a majority of 566 members of both houses of parliament and members of seven provincial assemblies, defeating his rival Subas Chandra Nemwang of the Communist Unified Marxist-Leninist party.

"Hearty congratulations to my friend Ram Candra Poudel for being elected as the President," Nepali Congress Chief Sher Bahadur Deuba tweeted.

The total number of voters for the election of the president is 882, consisting of 332 members of the Federal Parliament and 550 members of the Provincial Assemblies of the seven provinces.

According to Nepal's Election Commission, 518 Provincial Assembly members and 313 members of the Federal Parliament cast their votes in the presidential election.

This is the third Presidential election in Nepal since the country became a republic in 2008.

Poudel will start his five-year term on Monday, one day after President Bidya Devi Bhandri retires.

(With input from agencies)