Does a large Android project in Android libraries shorten improved build time?

I have a rather large project for Android, and sdk requires a considerable amount of time to perform parsing / de-allocation of resources, etc. I would like to somehow improve this.

I read that Android library projects can now contain resources. Therefore, we can also include actions, fragments, etc. in them.

Does this mean that if I export parts of my large project to library projects that I refer to the main project, then I do not need to build the already built (and not modified) libraries again when I rebuild the main project? Therefore, I only need to parse / decompose resources / etc. For modified libraries and, possibly, the main project, which in most cases reduces the overall build time.