From being number two in the ruling coalition, Mukherjee is on his way to becoming the first citizen.
"I have got much more in return than I have given. I thank everyone who voted for me. I hope to do the job now entrusted to me - to defend and preserve the Constitution," Mukherjee said soon after it became clear that he was on the victory path.
The Congress veteran, with a political career spanning over 40 years, trounced Sangma - backed by the BJP, AIADMK and BJD - by 1,612 votes. He had reached the required halfway mark to register victory even when votes for 10 states were yet to be counted.
Mukherjee and Sangma congratulated each other after the results became obvious, but the bitterness that had taken root during the run up to the contest remained. Sangma accused the UPA of influencing states through economic packages, accusing the Congress of starting the dangerous trend. "There should be a code of conduct," the NDA nominee said.
Mukherjee's victory was a foregone conclusion as all major political parties had announced their support for his candidature, including the BJP's NDA partners the Janata Dal (United) and the Shiv Sena. Not only was the NDA divided, the contest also saw the UPA falling apart with the Trinamool Congress first opposing Mukherjee's candidature only to support him later.
In the Karnataka Assembly, Mukherjee secured 117 votes while Sangma polled 103 votes. Had there been no cross voting, Mukherjee would have secured 98 votes - 71 from the Congress and 27 from the JD-S, which supported his candidature. At least 13 MLAs from the party appeared to have voted for Mukherjee.
Sources in the Sangma camp, however, claimed he got 15 unexpected votes in Jammu and Kashmir, and three each in Gujarat, Madhya Pradesh and West Bengal. But Sangma, who projected himself as representative of tribals, lost in Arunachal Pradesh.
In all other BJP ruled states such as Himachal Pradesh, Gujarat, Chhattisgarh and Madhya Pradesh, he polled more votes than Mukherjee. Tamil Nadu and Orissa, ruled by the AIADMK and BJD respectively, also polled in favour of Sangma.
Mukherjee's victory came as a big boost for Congress president Sonia Gandhi as much was put at stake by her. She termed the victory as people's faith in the UPA. She visited Mukherjee's residence to congratulate him. Prime Minister Manmohan Singh and his wife were also one of the first persons to visit Mukherjee's house.
Trinamool chief and West Bengal chief minister Mamata Banerjee was one among the first to congratulate him.
The thumping majority has also provided the Congress-led UPA with much needed political resuscitation in its three-year tenure marred by corruption scandals, policy indecision and recalcitrant allies. Predictably, party workers hit the streets across the country in wild celebrations as the party won its first big election in recent years.
Mukherjee, who will be sworn in on Wednesday, will have to cross another hurdle. The BJP and Sangma will move the Supreme Court next week challenging his election on the ground that he held an office of profit while filing his nomination and his resignation from the post of chairman of the Indian Statistical Institute was invalid.
Mukherjee would have a tough job once he assumes charge. The controversial mercy petition of Afzal Guru will be his immediate test. His biggest test will come two years later when the country goes to the polls in 2014. Any fractured mandate would bring his role into sharp focus.
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