Heat milk in a wide bottomed pan over medium high heat and bring to a boil.
Allow the milk to simmer over medium heat till it reaches half its original quantity. Keep stirring in between.
Add saffron, sugar and the roughly chopped nuts.
Mix well and keep simmering on medium heat. Stir till it further reduces to almost one third of its original quantity.
Turn off heat when it gets a thick consistency like rabdi and allow to cool.
Once cool, add some cardamom powder and mix well.
Pour the chilled mixture into holds and freeze them.
After an hour, stick a wooden stick into the kulfi and place it back in the freezer. Let it set overnight or at least 6-8 hours.
Once the kulfi sets, allow the moulds to remain outside the refrigerator for 3-4 minutes or place them under warm running water for just few seconds. Now pull out the kulfi with the help of the wooden stick in the centre.
Garnish with a few chopped nuts and serve immediately.