Hi Sanket
Scenario you are talking about is classified as MCOD (Multiple Components on One Database) which is subjected to restricted use as recommended by SAP. Please refer SAP Note 1661202 - Support multiple applications one SAP HANA database / tenant DB which mentions SAP Systems whitelisted for this scenario.
Basically, SAP introduced concept of MDC to support this scenario for productive use only. Hope this note clarifies your query. Please do not forget to mark this as helpful or correct if your query is answered.
Cheers
Raj Mohan