The service version is control via Service package's access group setting. If you keep separate service package name then you would be able to achieve it. However if you change service package name then your end point url will also change. Explore this option if this meets your requirement.
Hi, We already tried this option, but its not working the way how versioning works. If i just change the end point url to the existing request, its still going and hitting the old service package. Hence, its not giving the new elements added in the new version.