Hello Aiman,
Thank you very much for your assistance.
So, according to following: Can I perform multiple compilations using the Quartus II software at... , it seems expected behaviour and this should happen with floating server as well as fixed (node locked) license.
But interesting thing for us is we do not face this issue while using fixed (node locked) license. We are seeing this when we use floating server license. It may be possible that there might be some configuration issue at our side in generating fixed node locked license. I will check with our internal team.
Thank you again for your help.
Kind Regards,
Bhaumik