Crush saffron threads in a pestle and mortar and transfer to a bowl. Add 3 tbsp milk.
Beat the cream in a chilled bowl with a whisk or an electric mixer just until it holds a loose peak. Store in refrigerator till you are ready to serve the sharbat.
Place milk in a medium-sized sauce pan on medium-low heat. Add cardamom seeds and bring to a simmer.
Pass milk through sieve into a glass vessel and discard cardamom seeds.
While milk is still warm (it should not be hot), add saffron water, honey and cardamom powder. Stir well to incorporate.
Transfer to serving glasses and add dollop of cream and sprinkle with crushed pistachios before serving.