Hybris setup for multiple projects

Hi

I am a beginner in Hybris and my question is very basic. I want to know if a single setup of Hybris (on a developer machine) can be used for multiple projects i.e. lets say a b2b_acc and b2c_acc, can we have both at the same time? Since all configurations happen in the same local_extensions.xml, will they override or conflict and cause any problems? Assume that both the b2b and b2c sites are for completely different customers. Even in this scenario can a developer machine work on both projects using the same Hybris setup in ee?