Running several instances of smarty.

I would like to run several subdomains using smarty.  Each subdomain
would be a separate instance of smarty.  Can I use the same folders
(i.e. template, template_c, cache, configs) for more than one instance
of Smarty?

/domain/template
/domain/template_c
/domain/cache
/domain/configs
/domain/subdomains/subdomain1
/domain/subdomains/subdomain2
...