I have the local webserver on ubuntu inside virtual machine. Currently i access it via IP like
http://10.0.11.111
Is it possible i can DNS name for that ip which works only on local network like
http://companyserver.com
Yes. See /etc/hosts/
,
you want something like this:
10.0.11.111 companyserver.local
(don't use .com unless you have to, it's bad practice)