Hi Vijayakumar -
There is no option to delete any report suite once created. You can hide report suite using the below steps:
To hide the report suite, go to Analytics > Admin > Company Settings. Check the Hidden checkbox to the left of the report suite name.
To unhide the report suite, uncheck the Hidden checkbox.
To view only hidden report suites under Company Settings, select View > Only Hidden Report Suites.
To view only visible report suites, select View > Only Visible Report Suites.
The default is View > All.
https://marketing.adobe.com/resources/help/en_US/reference/c_hide_report_suites.html
Data that is sent to a hidden report suite from your site continues to be collected, processes, and billed. In other words, a report suite is never fully deleted.
Hope this helps.
Regards,
-Suhail