Wash and soak basmati rice for an hour.
Drain water completely. Blend it in the blender till the consistency resembles fine semolina. We don’t require rice paste.
Heat the ghee in a pan. Add ground rice. Stir it for a few seconds.
Add milk. Mix well till mixture incorporates well. Keep stirring and cook it on a low flame for 4-5 minutes or until rice is half cooked.
Add sugar, blanched, peeled, sliced almonds, cashew nuts. Mix well. Cook for more 2-3 minutes.
Add condensed milk, cardamom, nutmeg powder, saffron strands milk. Mix well. Cook until rice cooks properly and phirni thickens.
Pour in the bowls. Garnish with some sliced dry fruits. Serve chilled.
