Excess protien is converted into fat or shitted out Snakey, so yes it will if you over do it.

You won't really build muscle quicker either, tbh it's just a convinient source of protien, minus several other nutrients you would find if you where getting you're protien intake from lean meats.

Personally I would just eat a lot of complex carbs and clean, lean meat like Chicken and Beef with out added back fat.