Latest news with #PTC
Hindustan Times
3 days ago
- Business
- Hindustan Times
Lodha Developers acquires 945 transit camp apartments measuring 3.29 lakh sq ft for ₹567 crore from Arihant in Mumbai
Mumbai-based listed real estate developer Lodha Developers Limited has purchased 945 permanent transit camp (PTC) units, spanning over 3.39 lakh sq ft, from Arihant Construction Company in Mumbai's Mankhurd area for ₹567 crore, according to property registration documents accessed by CRE Matrix. The deal is linked to Lodha's ongoing project in Vikhroli, where, under the Slum Rehabilitation Authority (SRA) scheme, the developer is required to hand over a portion of built-up space to the SRA in exchange for additional construction rights for sale in the open market. Arihant Construction, which is undertaking a slum rehabilitation project in Mankhurd with over 83,000 sq m of free-sale component, is supplying these PTC units. To meet its obligations, Lodha will transfer the acquired units to the SRA. The documents show that the transaction forms part of a larger deal involving the transfer of free sale Floor Space Index (FSI) under the Development Control and Promotion Regulations (DCPR) 2034. Transit camp units are temporary housing accommodations provided to people, typically slum dwellers or tenants, who are displaced due to redevelopment projects, especially under slum rehabilitation or infrastructure development schemes. Slum Rehabilitation Authority (SRA) scheme is a government initiative aimed at redeveloping slum areas in Mumbai by providing free, permanent housing to eligible slum dwellers while allowing private developers to construct and sell residential/commercial units for profit on the remaining land The agreement allows Lodha to integrate the acquired Floor Space Index (FSI) into its own Vikhroli project, enabling the use of Arihant's free sale rights to develop residential and amenity spaces within the township. The transaction was registered on June 3, 2025, with a stamp duty of ₹34.02 crore and registration fees of ₹30,000 paid. Also Read: Maharashtra Tribunal backs homebuyers, orders Lodha Group to register portion of New Cuffe Parade Project with MahaRERA According to the documents, the arrangement falls under Regulation 33(11) of the DCPR 2034, which permits the clubbing of FSI between schemes for integrated development. This provision allows developers to transfer and utilise unused FSI from one project to another, a mechanism commonly used in redevelopment and slum rehabilitation projects across Mumbai. An email query has been sent to Lodha Developers Limited. If a response is received, the story will be updated. Arihant Construction Company could not be reached for comment. The company announced in a regulatory filing that it would rebrand from Macrotech Developers Limited to Lodha Developers Limited, effective June 16. Also Read: Macrotech Developers rebrands company's name to Lodha Developers Limited The company said that Abhishek Lodha-led firm Macrotech Developers Ltd received approval from the Registrar of Companies to change the name almost two months after settling the trademark dispute with the younger brother, who owns House of Abhinandan Lodha. They had settled the dispute on April 14. Also Read: Lodha Group eyes growth in Bengaluru with five new projects in FY2026 According to the agreement reached between the two brothers, listed entity Macrotech Developers Ltd is the owner of and has the exclusive right to use the brand names 'Lodha' and 'Lodha Group'. Abhinandan Lodha is the owner of and has the exclusive right to use the brand name 'House of Abhinandan Lodha'. Lodha Group and 'House of Abhinandan Lodha' have no connection with each other, and both entities decided to communicate this widely, they said in a statement.
Time of India
3 days ago
- Business
- Time of India
Lodha Developers acquires 945 apartments in Mumbai's Mankhurd for Rs 567 cr
Lodha Developers has acquired over 945 apartments as permanent transit camp (PTC) units in Mumbai's eastern suburb of Mankhurd from another real estate developer in a transaction valued at Rs 567 crore. This is the largest SRA-linked asset transfers recorded so far and reinforces the growing trend of offsite PTC fulfilment in Mumbai's real estate market. The transaction involving bulk purchase of apartments includes a total built-up area of 3.39 lakh sq ft and is a compliance-driven move. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The company has paid stamp duty of Rs 34.02 crore for the registration of the bulk transaction that took place on June 3, showed documents accessed through realty data analytics platform CRE Matrix. A Permanent Transit Camp refers to ready-built housing units that developers construct or acquire to temporarily or permanently house project-affected people--usually slum dwellers or tenants--under SRA schemes or redevelopment projects. Live Events One of the company's ongoing projects involving slum rehabilitation in Vikhroli suburb mandates the developer to hand over more than 50,000 sq meter of constructed area to the Slum Rehabilitation Authority for PTC purposes. 'This is a classic example of how larger developers are using asset-backed planning to meet regulatory obligations while optimizing timelines. For the developer, this is usually both a strategic and a tactical purchase,' said a senior real estate consultant. With limited land availability in Vikhroli and long gestation periods associated with in situ construction, Lodha is looking to fulfil this obligation through an offsite transfer of built-up area. ET's email query to Lodha Developers remained unanswered till the time of going to press. These residential units, once completed, will be handed over to the SRA, allowing Lodha to meet its rehabilitation commitment for the Vikhroli project. The seller reportedly holds over 83,000 sq meter free sale component in Mankhurd, making the location suitable for such a transaction under SRA norms. With this deal, the seller has monetized part of its free sale inventory, while Lodha will achieve quicker compliance for its Vikhroli project without additional construction delays. The transaction also indicates the growing relevance of eastern suburbs like Mankhurd in Mumbai's redevelopment story. Transactions like these are expected to rise as Mumbai's redevelopment momentum accelerates, driven by the twin pressures of tighter delivery timelines and increasingly stringent compliance frameworks. With limited availability of vacant land in core city areas and growing regulatory scrutiny, developers are opting for quicker, asset-backed solutions like offsite PTC fulfilment. This trend is likely to continue as large-scale urban renewal projects gain pace across the city's eastern and central suburbs.
Yahoo
3 days ago
- Business
- Yahoo
How Is PTC Inc.'s Stock Performance Compared to Other Software Stocks?
With a market cap of $20.7 billion, PTC Inc. (PTC) operates as a software company in the Americas and internationally. Headquartered in Boston, Massachusetts, the company offers a comprehensive portfolio of software solutions, including computer-aided design modeling, product lifecycle management, data orchestration, and experience management. Companies worth $10 billion or more are typically referred to as "large-cap stocks." PTC fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the software application industry. PTC offers Windchill, a suite that manages all aspects of the product development lifecycle, ThingWorx, an Industrial Internet of Things software, and ServiceMax, a service lifecycle management solution. Dear Tesla Stock Fans, Mark Your Calendars for June 22 Trump Is Giving Tesla's Robotaxis a Leg Up Ahead of June 22. Should You Buy TSLA Stock Now? Nvidia Says Quantum Computing Is Nearing an 'Inflection Point.' Here Are the 3 Best Stocks to Buy Now to Profit. Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Despite its strengths, the stock has plunged 17.5% from its 52-week high of $203.09 touched on Dec. 12, 2024. Moreover, over the past three months, PTC stock has grown 5.5%, underperforming the SPDR S&P Software & Services ETF's (XSW) 7.7% uptick during the same time frame. PTC stock has declined 8.9% on a YTD basis, underperforming XSW's 3.8% fall in 2025. Moreover, PTC has declined 3% over the past 52 weeks, underperforming XSW's 24.8% surge. PTC has been trading below its 200-day moving average since early February and above its 50-day moving average since early May. PTC shares surged marginally following the release of its Q2 earnings on Apr. 30. The company reported a 6% year-over-year growth in its revenue, which amounted to $636 million and topped Street forecasts. The company's non-GAAP operating margin also expanded by 490 basis points to 47%. PTC's adjusted earnings rose 23% from the prior year's quarter to $1.79 and surpassed the analyst estimates by 37.7%. Its rival, Workday, Inc. (WDAY) has declined 5.8% in 2025 and has grown 14.2% over the past year, outperforming the stock. Among the 18 analysts covering the PTC stock, the consensus rating is a 'Moderate Buy.' Its mean price target of $187.50 suggests a modest 11.3% upside potential from current price levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Malay Mail
4 days ago
- Business
- Malay Mail
Union demand talks after 161-year-old Penang Turf Club closes, says workers denied fair retrenchment process
GEORGE TOWN, June 17 — Members of the Club Employees Union of Peninsular Malaysia (CEUPM) held a peaceful protest today over the Penang Turf Club's (PTC) alleged failure to engage in negotiations with its retrenched workers since May 31. The union's Secretary-General Rudy Rusly said the employer's action violated the spirit and principles of collective bargaining as enshrined in the Industrial Relations Act 1967. This, he said, concerns the right of employees to be represented by a trade union in matters related to terms and conditions of employment and retrenchment. The protest over stalled retrenchment negotiations follows the closure of the club after a 161-year run. 'The union asserts that any retrenchment action must be negotiated with the union to ensure workers' welfare is protected and that dignified compensation is discussed fairly. 'Employers cannot make unilateral decisions that affect workers' livelihoods without negotiating with the union. It is a lawful action under the law to express our protest and demand justice for our members,' he said in a statement yesterday. He called on PTC to return to the negotiating table and respect the workers' right to union representation. — Bernama
Business Wire
5 days ago
- Business
- Business Wire
PTCT Investors Have Opportunity to Join PTC Therapeutics, Inc. Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of PTC Therapeutics, Inc. ('PTC' or 'the Company') (NASDAQ: PTCT) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. PTC issued a press release on May 5, 2025, 'announc[ing] results from the Phase 2 PIVOT-HD study of PTC518 (votoplam) in Stage 2 and Stage 3 Huntington's disease (HD) patients.' According to the Company, 'the study met its primary endpoint of reduction in blood Huntingtin (HTT) protein levels (p<0.0001) at Week 12 and favorable safety and tolerability.' However, analysts who reviewed the data believe that the Company would need to conduct a Phase 3 study to determine if the treatment actually slows HD. Based on this news, shares of PTC fell by more than 18.6% on the same day. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
