First, pressure cook the carrots along with about a ½ cup of water for 2 whistles or until fully cooked. Leave the carrots to cool down to room temperature.
Meanwhile, soak the almonds in normal temperature water for 1 hr or hot water for 15 mins or boiling water for 5 mins. Then peel the skin of the almonds.
Once the carrot cools down, add the carrot, almonds to a blender/mixie along with sufficient water and grind to a smooth paste. Add only a little water just sufficient for grinding. Keep the carrot almond paste aside.
Now, in a heavy bottomed pan, heat the ghee. Add the cashews, pista and saute until the cashews turn slightly golden brown. Remove the cashews, pista from the ghee and keep it aside.
In the same pan, to the remaining ghee, add the carrot almond paste and saute in medium flame for about 5 mins or until the raw smell of the carrots is gone.
Now, add the milk to the pan, mix well and let the milk come to a boil. Keep stirring frequently.
Once the milk just starts to boil, add the condensed milk and mix well until combined. Add the cardamom powder, saffron strands and let the kheer continue to boil for another 5 mins, until it slightly thickens. Turn off the flame. Add the fried cashew and pista pieces and mix well.
Refrigerate and serve chilled. Optionally garnish with some more nuts before serving.