Take ½ cup almonds and grind them in a blender with a little bit of water. Grind them until you get a smooth and fine mixture. Keep it aside.
Now add milk to a saucepan and bring it to boil. Add grated paneer. Cook it further on medium to slow heat till it becomes thicker and add sugar, almond paste, chopped almonds, green cardamom powder and saffron strands to the milk.
Stir well. Now your paneer and badam milk is ready