Heat ghee in a heavy-bottomed pan and lightly sauté the grated coconut for 3–4 minutes.
Add milk and cook over medium heat until the coconut softens and the milk reduces.
Add sugar and continue stirring until the mixture thickens.
Add condensed milk, cardamom powder, and saffron, mixing well.
Cook until the halwa becomes glossy and starts leaving the sides of the pan.
Stir in chopped nuts and transfer the halwa to a greased tray.
Allow it to cool, cut into pieces, and serve.