Hi Vinoth,
You can manually retain a specific Azure Backup restore point of a VM by restoring it.
For example, say you need to keep the backup instance of a VM that occurred last week for 1 year or more, however, you know that it will be deleted before then due to your backup policy. You could restore the VM to a different storage account and resource group and keep the VM stopped. That way you can manually decide when to delete it. Or, you could restore just the VM disk(s).
-TP