Let the milk come to boil. Mix the custard powder with 1/2 cup milk till smooth and keep aside. Add the sugar and the soaked sabudana to the milk and simmer on a low flame for 5 minutes.
Pour the custard mix to the boiling milk and continuously keep stirring till it becomes slightly thick. Remove from fire and keep aside to cool down.
Add the rose water and garnish with cardamom powder and saffron. Serve chilled.