If you are using refrigerated khoya, then bring it to the room temperature first. Then grate it fine in a bowl.
Meanwhile, soak saffron in luke warm milk for about 5 minutes.
Take a heavy bottom pan or a non stick pan. Heat 1 tbsp ghee in it and reduce the flame.
Add grated khoya and saffron soaked milk, elaichi powder to the pan.
Stir continually on the medium heat till the khoya leaves the sides and gathers in the middle. It takes about 5-7 minutes. Do not brown the khoya. Continous stirring is must.
Switch off the flame. Transfer the saffron infused khoya to a big bowl. Let it rest for about 5 minutes.
Add dry coconut and powdered sugar to it. Mix well with hands or a fork or spoon. Bring it together like a dough.
Let sit for 2 minutes. Grease your hands with ghee.
Divide the dough into 20-22 equal portions.
Take one portion. Roll between your palms to make a smooth disc. If you want, then make a small dent in the middle of the peda. It looks cute. Doesn't it?
Spread some dry coconut in a small plate. Roll the Peda Disc into dry coconut from the sides and the top. Set aside to cool.
Work fast to make pedas, before the dough cools down completely, otherwise it will leaves cracks on the surface while rolling.
Set aside to cool down completely.