Sure, but from the looks of things this is a pretty generic web site. If you have been doing development for a while that figure would be an instant red flag. Not blaming either party.

The 'additional' requirements that were listed to justify this such as administration area, caching layer, feeds, etc are really basic items.

So unless they wrote their own web server I don't see any issues with flagging this.

For all you know that figure could have been made up.