Pour the yoghurt in a cheese cloth and place on a strainer. Keep this on a bowl in the refrigerator overnight. The thick hung yoghurt is used for the recipe.
Soak the apricots overnight in 1 cup water. Then blend into a smooth paste. Heat a pan and simmer the apricot paste, sugar, lime juice, pinch of salt, saffron and cardamom powder till reduced and slightly thick. Keep aside to cool.
In a bowl, whisk together hung yoghurt and the reduced apricot. Pass it through a sieve to remove the granules.
Add the rose water and mix well. Chill before serving the shrikhand in individual bowls, garnished with chopped pistachios, cherries and rose petals.