Bring the milk to a boil in a deep pan. Lower the heat and let it simmer till it reduces a little. Grind the soaked rice to a coarse paste.
Add a little milk to it and mix to make it a little thinner. Add this to the reduced milk in the pan and cook, stirring continuously to avoid lumps.
Add saffron and mix. Add sugar and cook till it thickens. Add green cardamom powder and rose water and mix. Take it off the heat. Add pistachios and mix.
Pour into individual kasoris and set aside to cool. Chill and serve.