Combine ricotta cheese and unsalted butter to a heavy bottom pan. Reduce heat to the LOWEST setting. Mix to combine. Keep stirring occasionally, to prevent the ricotta cheese from burning or sticking to the bottom of the pan. Soon ricotta cheese will turn all liquid-y.
Keep stirring till all the liquid from the ricotta cheese is evaporated and it looks dry like a ball of dough. The whole process will take about 20 -22 minutes.
At this stage, mawa should look like a ball of thick creamy dough. Take it off the flame and allow it to cool for 10-15 minutes.
Transfer the cooled mawa to a mixing bowl.
Add milk powder.
When comfortable to touch, knead the peda dough till it's smooth and forms a dough. Knead it well. Milk powder, when mixed with warm (not hot) mawa/ricotta cheese loses its raw taste and blends in flawlessly. If mawa feels cold, warm it in the microwave for 2 minutes and start kneading the dough.
At this point check the sugar and adjust according to taste. If while kneading the dough feels sticky apply some ghee or butter to your hands and knead the dough.
Once the peda dough is well blended and feels creamy when rolled in between the hands, it's time to shape them.
Spread the dough on a clean surface. Use a cookie cutter or a small katori to make pedas.
Sprinkle cardamom powder, saffron strands, and assorted nuts.
Pedas are ready to enjoy!!