Coarsely grind tender coconut with coconut water and keep it aside

Stir milk and let it boil untill it becomes thick. Mix condensed milk and stir for some more time. Add sugar, cardamom powder, nutmeg powder,and keep stirring.

Switch off the stove and allow the milk to cool. Add the coconut and coconut water to the milk. Add coconut milk.

Add split cashew nuts and saffron Chill the Payasam for some time before you serve