Boil the milk over medium heat until reduced to half. Add the saffron while it is boiling. Add sugar and boil for another 5minutes.
Remove from heat. Add cardamom and nuts. Cool to room temperature.fold in blended paneer well. Fill the kulfi mixture into ring shaped kulfi moulds. Cover and Freeze until set.
To serve- Garnish paneer kulfi with silvered almonds, pistachios, gulkund, and cherries. Sprinkle rose syrup to give pichkari color effect. Kulfiwada is ready to serve.