Hello Pradeep,
Yes, it is possible to upgrade from MDM 7.1 SP05 to SP15 directly.
You should check the below MDM documentation:
1, MDM Upgrade Guide
2, MDM Master Guide
3, Product Availability Matrix
4, If you have SRM-MDM Catalog in your scenario, then please visit this Wiki as well: SRM-MDM Catalog version compatibility
Here you can find all the MDM related guides: SAP NetWeaver Master Data Management (MDM) 7.1 – SAP Help Portal Page
Regards,
Viktor