Heat a large non stick pan and melt the butter.
Add milk powder and condensed milk and with a whisk mix the ingredients to remove any lumps.
Keep mixing and cook in the medium flame till the mixture starts to separate from the pan and thickens.
Add crushed cardamom powder and mix it well.
Turn off the stove, and transfer the mixture to a wide plate and let it cool slightly, for 3-5 minutes.
Apply some ghee to the hands and take a small portion of the dough and make a crack free ball. Slightly flatten the ball and place pistachio.
If you have any design molds, you can use them to a get a beautiful design for the peda. I used a whisk to make some lines on the peda.
This instant peda, stays fresh for upto 5 days in the refrigerator.