Heat 4-5 tbsp ghee in a heavy-bottomed pan.
Add chopped nuts and sauté until they are golden and fragrant.
Add the vermicelli and toast until it turns golden brown. Stir continuously to prevent burning.
Remove from heat and set aside.
In a cold stainless steel pan, add 1/4 cup sugar and let it sit without stirring.
Slowly heat the sugar on low-medium heat until it melts and turns a deep golden caramel. Be patient and avoid stirring.
Once the sugar has fully caramelized, add 1 tbsp ghee to make it runny and easier to mix with the milk.
Carefully pour in 1.5 liters of milk. The caramel will harden at first, but keep stirring, and it will dissolve completely. This step gives the sheer khurma its signature deep, toffee-like flavor.
Add 1 tbsp condensed milk for extra creaminess.
Stir well and let it simmer on low heat for 5-7 minutes.
Add the toasted vermicelli and nuts to the milk mixture.
Cook for another 10-15 minutes, stirring occasionally, until the sheer khurma thickens to your desired consistency. I personally prefer it thick, but if you like it thinner, you can add more milk.
Pour the sheer khurma into a serving bowl.
Garnish with chandi ka varak, chopped nuts, and dried rose petals.
Serve warm or chilled, depending on your preference.