Can we use MSBuild without Visual Studio 2012?
Currently, we have a build server where we are compiling and creating deployment copy of one of our projects, it has Visual Studio Professional Edition installed. We are setting up a new build server now. Do we really need Visual Studio 2012 on the new build server?
If yes, then how? I googled it but I couldn't find an answer.
No, you don't need Visual Studio on your build box. If I recall correctly, msbuild is installed as part of the .NET framework - it certainly used to be.
Depending on what you're building, you may find that there are some things which are easier to get working if you do install Visual Studio though - things like portable class library profiles. While there are usually non-VS installers available, I've found it simpler to install an Express edition of Visual Studio just to get the bundled build targets.