If you make it straight from milk it's (not yet pressed) paneer - it won't have the creaminess of ricotta. It is a decent way of quickly approximating khoya (milk solids by evaporation) though, I think.
I've occasionally seen suggestions to use whey from paneer to make ricotta, which is nonsense - it's already been acid-split to make the paneer, all you're really doing is taking some of your paneer curd and calling it ricotta.