Rinse and peel 3-4 medium-sized peaches, then chop them into small pieces. Set aside.
In a heavy-bottomed pan, heat 1 liter of full-fat milk on medium flame. Bring it to a boil, then reduce the heat and let it simmer for 10-12 minutes, stirring occasionally to prevent it from sticking to the bottom.
Add 100 grams of sugar to the milk and stir well until the sugar dissolves completely.
Add the chopped peaches to the milk and cook for another 5-7 minutes, stirring occasionally.
In a small bowl, mix 1/4 teaspoon of cardamom powder and a pinch of saffron strands with 1 tablespoon of warm milk. Add this mixture to the peach kheer and mix well.
Cook the kheer for another 5 minutes on low flame, then turn off the heat and let it cool down to room temperature.
Once cooled, refrigerate the peach kheer for at least 2 hours before serving. Garnish with chopped almonds and pistachios before serving.