@sivakumar sivaraman , An ExpressRoute circuit can have any one, two, or all three peering's enabled per ExpressRoute circuit.
Each circuit has a fixed bandwidth (50 Mbps, 100 Mbps, 200 Mbps, 500 Mbps, 1 Gbps, 10 Gbps) and is mapped to a connectivity provider and a peering location. The bandwidth you select is shared across all circuit peerings.
All you need to have here for multiple peering's is a unique address range for DC2 subnet.