Heat ghee in a pan and saute the grated papaya for 2-3 minutes. Keep aside. Bring the milk to a boil. Add the green cardamoms and a pinch of salt and simmer for 4-5 minutes.
Add the papaya and continue to simmer on a low flame, by stirring at intervals. When the papaya turns soft, add the sugar and the chopped pistachios (reserving some for the garnish).
When the kheer turns slightly thick, switch off the flame. Add the kewra / rose water, cardamom powder and the saffron. Garnish with the remaining pista and serve it chilled in individual bowls.