Heat the kadai or pan and add 1 tbsp of ghee. When it is hot, add the cashews and roast them until it turns light brown. Remove the cashews from the pan and set them aside.
In the same pan, add the grated carrots. There should be some ghee left after roasting the cashews; if not, add ½ tbsp and then add the carrots.
Roast the carrots for 3 to 4 minutes over medium-low heat. The color of the carrots will change, and it will ooze out some moisture, and that's fine.
Now add the milk and mix well.
Cover and cook the carrots for 7 to 8 minutes. Open the lid and stir the carrots every two to three minutes.
Now add the sugar and mix. Cook for two more minutes.
Then add the sweetened condensed milk, ground cardamom, and saffron.
The halwa will be slightly watery, and that's fine. Add ½ tbsp of ghee and cook until the mixture thickens over medium-low heat. It took me 10 minutes, and I forgot to take the final step picture. Finally, add the roasted cashews and enjoy warm.
Notes
Make sure to cook the halwa over medium-low heat. On a number scale, I was adjusting between 3 and 4. Do not cook over high heat, and don't rush the process. Slow cooking enhances the flavor.
You can soak the saffron strands in the milk instead of adding them directly.
Adjust the sugar and sweet condensed milk to taste.
You can skip the condensed milk and add more sugar instead.
I used my hand grater to grate the carrots, and I have tried grating it on the thicker and the thin side, and we loved the texture in both cases. For this recipe, I grated it on the thin side.