Fry the aval in a teaspoon of ghee. Fry the cashew nuts and coconut bits also. Keep it aside.
Boil the milk and when it starts boiling, reduce the heat and add fried aval. Stir constantly till the aval is soft. Add sugar and stir well. Cook in low flame till the payasam is thick enough. Add fried cashew nuts, coconut bits and cardamom powder. Mix well.
Note: You can also coarsely grind the fried aval and make this payasam.