Hi Ghanshaym,

It has been a while since your post, but if you are still looking for a Job Costing Solution for Odoo, we have created this now for Odoo.
https://odoo.interacct.com.au/job-costing-by-interacct/

We have been building Job Costing Systems for 30+ years with our InterAcct Package, similar to Sage 50, so we have got some of the concepts of our InterAcct Job Costing over into Odoo with this module.

But to answer your question, you will need a 3rd Party Module like above to get a result similar to Sage/InterAcct.

With our Odoo Job Costing Module will be able to create unlimited Sub Jobs under Parent Jobs which will allow you to breakdown your Jobs to whatever level of detail you like. Under each job you can record the multiple Estimates which can convert to Budget, and then you can track your actuals against this budget with Costs separated by Materials, Direct Labour, Subbies, Machines and Sundry Costs.

Let me know if it is what you are after.