Soak the rice for 2-3 hrs and then grind it into a coarse paste. Heat a thick bottomed vessel (I used nonstick one), heat the milk, add Kesar.
Then add the rice paste, and keep stirring it as it might stick to the bottom.
Cook till rice is done which takes about 10-14 minutes. Then add the sugar, cardamom powder and stir, till the sugar melts and the mixture is thick enough.
Pour it into bowls and chill it. Serve with sliced almonds