Hello Murali,
This normally means you are not reaching the BPC server in your connection.
Please have a look at your connections details:
The URL is of the format: http://<server>.com/sap/bpc/
Also check if you can reach BPC from your client machine: use http://<server>/sap/epm_bpc/web
Note: you can find this information on: http://service.sap.com/sap/support/notes/1702410
Thanks
Marc