@MohdAlim
Yes you can do that but
I would not recommend anyone doing this.
Many more problem may arise as NBU backups over network purely works on name resolution, either
DNS or Hosts file
If you have NBU master server name other than machine hostname then you will end up in creating two DNS / Hosts file entries for the same server.
Also for backups to complete successfully
client-to-server and server-to-client name resolution should work properly, both forward and reverse i.e.
hostname-to-IP_Address and IP_Address-to-Hostname