Yes. In fact, you are very close to your example. Use /p:Configuration="Name":
msbuild YourProj.cbproj /p:Configuration="Release Build"
Configuration="Name" ++ Builder config="Name" Delphi, , Delphi ++ Builder. ( , , . , , . : , "config" 2009 . , , 2010 .)
/t: , , ; /verbosity, ('quiet' , ++ Builder 6 MSBuild); , , msbuild /? . - :
msbuild YourProj.cbproj /p:Configuration="Release Build" /t:Make /verbosity:quiet /nologo
script . , .