Reproduced on 4.6.2f1 and 4.6.3p2 versions with Angry Bots project;

The same standalone was launched with "-batchmode" and "-batchmode -nographics" arguments. Seems there is no big difference between launching with one or two arguments:
http://gyazo.com/1deda666e8840a89ac124671e6821938

Note: after a while (an hour) memory decreases to 60MB, but 500MB increase looks terrible;

Repro steps:
1. Build AngryBots project to standalone player;
2. Run the game with cmd line. For example: "C:\builds>AngryBots.exe -batchmode -nographics";
3. If you build project in development build, you can see memory usage in Profiler, or if you build project in non-development build, you can see memory usage in task manager;