In a mortar pestle lightly crush the saffron. Add milk and set aside.
In a heavy pan add ricotta cheese. Keeping the flame on medium, cook the cheese till all the water evaporates and the cheese thickens.
The cheese will thicken in about 25-30 minutes. It will be crumbly like Indian mawa.
At this stage add cardamom powder, saffron milk and condensed milk. Mix well and cook for another 10-15 minutes.
As the mixture thickens, remove a small spoon of the mix and make a ball. If it comes together without sticking, remove the pan from flame and set aside.
Let the mixture cool down a little.
Once cool to touch, knead the mixture to mix any stray particles.
Grease a modak mold well and place a small ball of the dough in it.
Press it out and smooth any edges that form.
Serve the kesar malai modak immediately or refrigerate till required.