Meanwhile, prepare the tender coconut flesh – remove any brown bits. Add it to a blender jar and add tender coconut water. Pulse it a few times and grind the mixture coarsely.
Add sugar to the milk and mix it well. Next add condensed milk and mix it too.
Add cardamom powder and remove the milk from heat.
Once cooled down, add thick coconut milk.
Finally add the ground tender coconut flesh. Mix well.
Keep the Elaneer Payasam chilled until ready to serve. Garnish with almonds.