Heat the milk with half a cup of water, and boil on low flame for 2 minutes. Keep stirring so that the milk does not boil over the pot. Remove from the flame and set aside.
Heat the ghee in a kadai/ frying pan and let it melt. I used a trusty old pan, but you could use a non-stick one instead.
Add the ground almond and stir it in. Sauté for about 7 minutes, stirring frequently.
Add the wheat flour (atta) and sauté for about 2 minutes, stirring frequently, till the raw smell of the flour disappears. This step is optional. The wheat flour gives an added texture to the dish, however if you prefer a smooth texture, then don't add the wheat flour.
Add the boiled milk and water, stir it in. Cook on low flame for 5 minutes, stirring continuously.
Stir in the sugar, sauté for 2 minutes, stirring all the while so the mixture does not catch at the bottom of the pan.
Add the saffron threads and a drop of saffron flavouring (if using). Sauté for 1 minute, stirring till done. I used Spice drop saffron flavouring, and it enhanced the flavours of the halwa.
Turn off the stove. Add the cardamom powder and stir it in.
Garnish with slivers of almond, and serve hot.